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Petroceltic Announces Interim Results and Operational Update
Posted on 28 August 2012. Tags: Dinarta, Hess, Petroceltic, Shakrok
By John Lee.
Petroceltic International, the independent oil & gas exploration company with interests in Iraqi Kurdistan, has announced its results for the period ended 30 June 2012.
Highlights:
Proposed Merger of Petroceltic & Melrose Resources plc (‘Melrose’) announced 17 August.
Declaration of Commerciality announced 9 August for the Ain Tsila Field in Algeria.
Final Discovery Report filed with the Algerian Competent Authorities.
Petroceltic estimates the Ain Tsila field to contain gross resources of 2.2 Tcf of sales gas, 70 MMbbl of condensate and 113 MMbbl of LPG.
Agreement reached with Sonatrach to market the Ain Tsila gas at a price linked to Brent oil price.
Seismic acquisition underway in the Kurdistan Region of Iraq.
Award of two licences in the central Adriatic, offshore Italy.
Italian Legislative Decree 83/2012 approved by Italian Parliament 12 August, provides for the potential resumption of activities offshore Italy.
Preparations for drilling of high value Carpignano Sesia prospect (formerly Rovasenda) in Italy in early 2013.
Funded and well placed to continue to develop and grow the business. Cash position of US$51.1m at 27 August 2012 with no debt.
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Posted on 28 August 2012. Tags: Dinarta, Hess, Petroceltic, Shakrok
By John Lee.
Petroceltic International, the independent oil & gas exploration company with interests in Iraqi Kurdistan, has announced its results for the period ended 30 June 2012.
Highlights:
Proposed Merger of Petroceltic & Melrose Resources plc (‘Melrose’) announced 17 August.
Declaration of Commerciality announced 9 August for the Ain Tsila Field in Algeria.
Final Discovery Report filed with the Algerian Competent Authorities.
Petroceltic estimates the Ain Tsila field to contain gross resources of 2.2 Tcf of sales gas, 70 MMbbl of condensate and 113 MMbbl of LPG.
Agreement reached with Sonatrach to market the Ain Tsila gas at a price linked to Brent oil price.
Seismic acquisition underway in the Kurdistan Region of Iraq.
Award of two licences in the central Adriatic, offshore Italy.
Italian Legislative Decree 83/2012 approved by Italian Parliament 12 August, provides for the potential resumption of activities offshore Italy.
Preparations for drilling of high value Carpignano Sesia prospect (formerly Rovasenda) in Italy in early 2013.
Funded and well placed to continue to develop and grow the business. Cash position of US$51.1m at 27 August 2012 with no debt.
[You must be registered and logged in to see this link.]
