Grant of Options

Petroceltic International plc

Option Grant

Petroceltic International plc ("Petroceltic" or the "Company") announces that it has granted share options to acquire ordinary shares in the Company to the following directors on the 10th June 2011 ("the Award") in accordance with the Company's 2009 share option plan ("the plan"). This Award was approved by the Board of the Company on the 10th June 2011. The options will vest 33.3% immediately, followed by a further 33.3% each on the first and second anniversary of the grant of Award, subject to a vesting criterion of the common shares trading at or above 14.82p/share for a 10 day period.

The key provisions of the plan are summarised on the Company's website (www.petroceltic.ie) under "investor centre/investor information".

Director Option Amount Exercise Price

Tom Hickey 16,300,000 £0.114

Alan McGettigan 9,800,000 £0.114

Brian O'Cathain 15,200,000 £0.114

The previous grant of options under this plan was on the 15th July 2009.

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

Jenny Renton 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 ESM Market. The Company has exploration and appraisal assets in Algeria 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.