Notice of Director Resignation

Dublin

11 December 2014

Notice of Director Resignation

Petroceltic International plc (PCI.L) ("Petroceltic" or "the Company"), the independent oil and gas exploration company focused on the Middle East, North Africa, Mediterranean and Black Sea regions, has been informed today by James Agnew, senior independent non-executive director, that he intends to resign from the Board of Directors of Petroceltic on or around 11 January 2015 following the completion of his notice period. Mr Agnew will also step down from his positions on the Audit, Remuneration and Nominations Committees.

Mr Agnew has been appointed into a new role as a special advisor to KPMG's Capital Advisory Group and is due to commence that role on 12 January 2015. As KPMG act as auditor to Petroceltic, KMPG's compliance rules preclude Mr Agnew from being a director of a client company.

In accordance with corporate governance standards, the Company's Nominations Committee and Board will proceed with the appointment of an external search agency in order to recruit an appropriate independent non-executive director to replace Mr Agnew.

Robert Adair, Chairman, commented:

"James has made an outstanding contribution as a non-executive director both at Melrose Resources and Petroceltic. His financial and commercial acumen has been a real asset to the Company and, on behalf of the Company, we wish him well in his new role at KPMG."

Ends

For further information, please contact:

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

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

Doug 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 the Middle East, 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, Bulgaria, Romania, the Kurdistan Region of Iraq, Italy and Greece.