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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Petroceltic | LSE:PCI | London | Ordinary Share | IE00BB0QZ876 | ORD EUR0.3125 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.495 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2391T Petroceltic International PLC 14 December 2003 PETROCELTIC INTERNATIONAL PLC: DISPOSAL OF NON CORE ASSETS Petroceltic raises US$2.25 million from Kazakhstan Mineral Royalty. Funds to be used to accelerate oil and gas programme offshore Ireland and North Africa. Petroceltic International plc ("Petroceltic"), an AIM listed upstream oil and gas company, announces that it has entered into a conditional agreement to dispose of its residual mineral interest in the Shaimerden zinc oxide deposit in Kazakhstan to JSC Kazzinc for a cash consideration of US$2.25 million. Kazzinc is central Asia's largest zinc producing company. The deal is expected to close by the end of January 2004. The proceeds will be used to accelerate the hydrocarbon exploration and drilling activity offshore Ireland and in North Africa and to exploit other opportunities in Petroceltic's core oil and gas areas. Brian Cusack, Chairman of Petroceltic, said: "Over the last six months Petroceltic has refocused the Company and concentrated on acquiring hydrocarbon interests with significant potential. During this period, Petroceltic has, in conjunction with this transaction, realised over US$3.9 million through the successful disposal of non-core interests and from an equity placing. "These funds are being used to build an exciting portfolio of hydrocarbon interests in our core areas. The proceeds from this disposal allows us to bring forward our work programmes so as to exploit more rapidly the full potential of our oil and gas properties." Contacts: Petroceltic International plc Tel: +353 1 662 7993 Brian Cusack, Chairman Tel: +353 87 257 5476 brian.cusack@petroceltic.ie John Craven, Managing Director Tel: +353 86 386 2076 john.craven@petroceltic.ie Binns & Co PR Ltd Tel : +44 (0) 20 7786 9600 Paul McManus Mob: +44 (0) 7980 541 893 paul.mcmanus@binnspr.co.uk Simpson PR Ronnie Simpson Tel: +353 1 260 5300 Davy Stockbrokers Des Carville Tel: +353 1 679 63 63 Notes to editors: Petroceltic International plc is an upstream oil and gas company registered in Ireland at 14 Upper Fitzwilliam Street, Dublin 2 and is quoted on the Alternative Investment Market (AIM) of the London Stock Exchange. The Company is now focused on natural gas exploration, development and production in the Celtic Sea, offshore Ireland, where it has interests in the Kinsale Gas Field and nearby blocks. Petroceltic is also in the final stages of negotiating oil and gas licences in North Africa. This information is provided by RNS The company news service from the London Stock Exchange END DISFZLFFXLBFFBD
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