Grant of EGM Injunction

Dublin

28 September 2015

Petroceltic International Plc

Grant of EGM injunction by the High Court of Ireland

Petroceltic International plc ("Petroceltic" or "the Company"), the oil and gas exploration, development and production company focused on the North Africa, Mediterranean and Black Sea regions welcomes today's ruling from the High Court of Ireland granting an injunction prohibiting Worldview Capital Management SA ("Worldview") from proceeding with its unlawful attempt to hold an extraordinary general meeting ("EGM") of Petroceltic shareholders that had been scheduled for 5th October 2015.

As directed by the High Court, the Worldview-convened EGM will not now proceed.

The Board reiterates that Shareholders should continue to take no action in relation to the Worldview-convened EGM. In particular, Shareholders should not sign any document sent by Worldview or its advisers, including the form of proxy.

Robert Adair, Chairman of Petroceltic commented:

"We are pleased that the court has upheld Petroceltic's application to prohibit Worldview's attempt to convene a further EGM and we now look forward to focusing on running the Company to deliver value for all shareholders.

Petroceltic remains committed to responding to legitimate concerns raised by any shareholder and furthering the conversation with all of our shareholders in a constructive manner."

Ends

For further information, please contact:

Brian O' Cathain /Tom Hickey, Petroceltic International 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 Tel: +353 (1) 679 6363

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, Egypt, Italy and Bulgaria.