Results of AGM and Withdrawal from Scheme

Dublin

30 May 2013

Petroceltic International plc

Results of AGM and withdrawal of Scheme

At the Annual General Meeting of Petroceltic International plc ('Petroceltic' or 'the Company') held on Thursday 30 May 2013, all of the resolutions considered and voted upon by the shareholders were approved. The full text of each resolution was included in the notice of the meeting circulated to shareholders.

Following the approval of the relevant resolution by shareholders, the consolidation of the ordinary share capital of Company (on the basis of one new consolidated share for every existing 25 shares) will be implemented in accordance with the terms of the resolution and the timetable previously announced by the Company on 28 May.

On 28 May 2013, the High Court of Ireland discharged its order convening a meeting of shareholders of the Company to consider proposals to establish a new Irish-incorporated holding company for the Company and its subsidiaries by way of a scheme of arrangement (the "Scheme"). Accordingly, that court meeting, which had been scheduled to be held immediately prior to the Annual General Meeting, was not held. The Company hereby formally announces that the Scheme has now been withdrawn.

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