Requisition of EGM

Dublin

9 January 2015

Requisition of EGM

Petroceltic International plc ("Petroceltic" or the "Company") announces that it has received a requisition to call an extraordinary general meeting ("EGM") from Vidacos Nominees Limited, the registered holder of 25.7% of the issued share capital of the Company, of which the beneficial owners are certain funds managed by Worldview Capital Management SA.

The EGM is being requisitioned to consider ordinary resolutions to remove Brian O'Cathain, the chief executive of Petroceltic, as a director and to appoint Angelo Moskov and Maurice Dijols as directors.

Further announcements in relation to the date and timing of the EGM shall be made in due course.

Ends

For further information, please contact:

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

Alasdair Robinson, Company Secretary Tel:+44 131 2213360

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.