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Petroceltic loss doubles ahead of Algeria round


Published Aug 26, 2008
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Irish independent Petroceltic International has recorded a doubling of second-quarter loss year-on-year to $2 million, the result hit by the cost of readying staffs for exploration in Algeria, offshore Italy and Tunisia.

In Tunisia, officials have agreed access to the prospective Ksar Hadada permit. Elsewhere in North Africa, the company said it planned nine wells in Algeria, including a shot at early oil in one well.

Meanwhile, officials have given the nod to the Seventh Algerian licensing round, where Petroceltic can bid on any of the 45 exploration and production permits on offer.

Tags: Petroceltic International plc




   

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