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Italian Operational Update

Released 07:29 03-Jul-2013

RNS Number : 4790I
Petroceltic International PLC
03 July 2013
 



                                   

Dublin

3 July 2013                

Petroceltic International plc

Italian Operational Update

Petroceltic International plc ("Petroceltic" or "the Company"), the upstream oil & gas exploration company focused on North Africa, the Mediterranean and the Black Sea regions, is pleased to announce an update on its activities in Italy.

Carpignano Sesia-1 well update

The Company has been advised that Eni Spa ("Eni"), as operator of the Carisio permit (Eni 47.5% Operator, Petroceltic 47.5%, Condotte 5%) in the Western Po Valley, has lodged an application with the Ministry of Economic Development requesting a further suspension of the permit.

This suspension will enable Eni to incorporate all latest  technologies in order to identify a new well location and drilling plan which enables all well objectives to be achieved, whilst also meeting local stakeholder concerns with respect to distance of the wellsite from the village of Carpignano Sesia

Petroceltic is fully supportive of Eni's ongoing efforts to ensure a successful outcome to the permitting process for the drilling of the Carpignano Sesia exploration well.

 

For further information, please contact:

 

Brian O'Cathain/Tom Hickey, Petroceltic International           Tel: +353 (1) 421 8300

Philip Dennis/Rollo Crichton-Stuart,

Pelham Bell Pottinger                                                              Tel: +44 (20) 7861 3919

Joe Murray/Joe Heron, Murray Consultants                            Tel: +353 (1) 498 0300

John Frain, Davy                                                                      Tel: +353 (1) 679 6363

 

Dr. Dermot Corcoran, Head of Exploration, Petroceltic International plc, is the qualified person who has reviewed and approved the technical information contained in this announcement. Dr. Corcoran has a B.Sc in Geology, a M.Sc. in Geophysics, and a Masters degree in Business Administration, all from the National University of Ireland, Galway. He also holds a Ph.D in Geology from Trinity College, Dublin. Dr. Corcoran has over 20 years experience in oil & gas exploration and production, and has previously worked at ExxonMobil, the Petrofina Group, and Statoil.

 

Notes to Editors:

Petroceltic International plc is a leading Upstream Oil and Gas Exploration and Production Company, focused on North Africa, Mediterranean and Black Sea Regions, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's ESM Market. The Company has production, exploration and development assets in Algeria, Bulgaria, Egypt, the Kurdistan Region of Iraq, Italy and Romania.

 

 

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Italian Operational Update - RNS