Algerian PSC Extension

Petroceltic International plc

Two year appraisal extension secured for four Isarene discoveries

Petroceltic International plc, ("Petroceltic" or "the Company") the upstream oil and gas exploration and production company focused on North Africa and the Mediterranean, in association with its partner Sonatrach, the Algerian national Oil & Gas Company, is pleased to announce the signature of an Addendum to their Production Sharing Contract which provides for a two year extension period to carry out appraisal work on the four discovery areas on the Isarene Block, namely Ain Tsila, Isarene North East, Isarene North West and Hassi Tabtab (the "Addendum"). The two year appraisal period commences on 26th April 2010.

The Addendum defines the arial limits to the the four discovered fields on the Isarene permit. Petroceltic and Sonatrach shall retain these areas for appraisal work, and relinquish title to the other areas of the permit post 26th April 2010. The total area of the retained acreage is 4032 sq. km, or 54% of the area of the Isarene permit held during the second exploration period, i.e. until 26th April 2010. A map showing the retained areas is available on the Company's website at www.petroceltic.ie

At the conclusion of the two year appraisal period Petroceltic and Sonatrach will submit to the Competent Authorities for approval the Commerciality Declaration and Development Plans for the discovered fields on the permit.

Brian O'Cathain, Chief Executive of Petroceltic, commented:

"We are pleased to have agreed the two year addendum to the production sharing contract with our partner Sonatrach. We look forward to recommencing drilling and appraisal work on the Ain Tsila field and other discoveries later this year"

Ends

For further information, please contact:

Petroceltic

Brian O'Cathain Chief Executive Tel: +353 (1) 421 8300

Alan McGettigan Finance Director

Pelham Bell Pottinger

Philip Dennis Tel: +44 20 7337 1516

Klara Kaczmarek Tel: +44 20 7337 1524

Murray Consultants

Joe Murray Tel: +353 (1) 4980300

Davy

Hugh McCutcheon Tel: +353 1 6796363

John Frain

Notes to Editors:

Petroceltic International plc is a leading Upstream Oil and Gas Exploration and Production Company, focused on North Africa and the Mediterranean area, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's IEX Market. The Company has exploration and appraisal assets in Algeria, Tunisia and Italy. Petroceltic is in a unique position in Algeria, operating a significant licence in partnership with Sonatrach the National Oil Company of Algeria, as it is the only AIM listed company to enjoy this position.