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Petroceltic completes sale of Egyptian exploration interests


Published Feb 19, 2016
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Petroceltic International plc

Petroceltic International plc has completed the sale of certain exploration licences in Egypt to its joint venture partner Edison International S.p.A.

On 23 December, the Company had reached an agreement to sell its interests in the North Thekah, North Port Fouad and South Idku exploration licenses to Edison for a cash consideration of US$9.5 million, after working capital adjustments of approximately $5.8 million.

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