Response to Announcement by Sunny Hill Limited

Dublin

4 March 2016

Petroceltic International Plc

("Petroceltic" or the "Company")

Response to Announcement by Sunny Hill Limited

Petroceltic notes the announcement made today by Sunny Hill Limited that Worldview EHS International Master Fund has, this afternoon, presented a petition to the High Court of Ireland (the "Court") to appoint an examiner to Petroceltic International plc and certain related companies in its group and to admit such companies to the protection of the Court pursuant to the relevant provisions of the Companies Act 2014 of Ireland.

The Company is taking legal advice in relation to the petition and a further announcement will be made in due course.

ENDS

For further information, please contact:

Petroceltic International plc:

Tel: +353 (1) 421 8300 

Brian O'Cathain

Tom Hickey

Davy Corporate Finance:

Nominated Adviser and ESM Adviser to Petroceltic

Tel: +353 (1) 679 7788 

John Frain

Roland French

Bell Pottinger:

Joint PR Adviser to Petroceltic

Tel: +44 (20)3772 2500 

James Henderson

Rollo Crichton-Stuart

Murray Consultants:

Joint PR Adviser to Petroceltic

Tel: +353 (1) 498 0300 

Joe Heron

Douglas Keatinge

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.