Appointment of Interim Examiner

Dublin

9 March 2016

Petroceltic International Plc

("Petroceltic" or the "Company")

Appointment of Interim Examiner

Petroceltic today announces that the Irish High Court has approved its application for the appointment of Mr. Michael McAteer of Grant Thornton as interim examiner to Petroceltic International plc, Petroceltic Investments Limited and Petroceltic Ain Tsila Limited (together the "Petition Companies").

Worldview EHS International Master Fund ("Worldview"), which on 4 March 2016 presented a petition for the appointment of an examiner, consented to the application.  

The Petition Companies are now subject to the protection of the Court pursuant to the relevant provisions of the Companies Act 2014 of Ireland (the "Petition").

The full hearing of the Petition will be heard on 4 April 2016.

ENDS

For further information, please contact:

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

James Henderson / Rollo Crichton-Stuart, Bell Pottinger Tel: +44 (20) 3772 2500

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

John Frain / Roland French, Davy Corporate Finance Tel: +353 (1) 679 6363

The Directors of Petroceltic International plc accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. 

Notes to Editors:

Petroceltic International plc is an Upstream Oil and Gas Exploration and Production Company focused on the development of the Ain Tsila Gas field in Algeria, 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, Egypt, Bulgaria and Italy.