- Today's Hot Chat Topics
- Member Benefits
- Manage your personalised Watchlist.
- Set up an online Virtual Portfolio.
- Participate in Share Chat.
- See more trades and director dealings.
- Play the Fantasy Share Trading Game.
Share:
HomeShare PricesStock PickerFinancial DiaryUK IndicesUK Industry SectorsCompany LookupShare RisersShare FallersBroker RatingsFinance GlossarySMS ServicesShare ChatFinance NewsBlogsLive PricesShares BookshopFinance ToolsMembers
Latest Share Chat
Petroceltic Share News (PCI)
Share News for Petroceltic (PCI)
| Share Price: 145.00 | Bid: 144.00 | Ask: 144.50 | Change: 0.50 (+0.35%) |  | ||||||
| ||||||||||
Petroceltic in talks about Algerian field stake sale
Mon, 10th Oct 2011 09:41
LONDON, Oct 10 (Reuters) - Irish oil and gas firm Petroceltic is in talks about selling a furt
'We've been in discussions with a number of major players who are currently active in Algeria with a view to bring in another partner because it's such a large development,' O'Cathain told Reuters on Monday.
The company said it is looking to sell an 18.375 percent stake in the Ain Tsila gas field in south-east Algeria, having sold Italian utility Enel an 18.375 percent interest in April.
'There's lots of interest. They're all majors, they're all very large companies,' he said, adding that any announcement on a deal was not likely until the end of the first quarter next year.
Algerian state energy company Sonatrach holds a 25 percent stake in the field alongside Petroceltic, which has 56.625 percent, and has a pre-emption right over any deal, said O'Cathain.
The company announced positive results from a flow test carried out on the field earlier on Monday.
(Reporting by Sarah Young; editing by Rhys Jones) Keywords: PETROCELTIC/
(sarah.young@thomsonreuters.com; +44 20 7542 1109; Reuters Messaging: sarah.young.thomsonreuters@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2011. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
LONDON, Oct 10 (Reuters) - Irish oil and gas firm Petroceltic is in talks about selling a furt
her stake in its Algerian gas field to oil majors, said the company's chief executive Brian O'Cathain in an interview.
'We've been in discussions with a number of major players who are currently active in Algeria with a view to bring in another partner because it's such a large development,' O'Cathain told Reuters on Monday.
The company said it is looking to sell an 18.375 percent stake in the Ain Tsila gas field in south-east Algeria, having sold Italian utility Enel an 18.375 percent interest in April.
'There's lots of interest. They're all majors, they're all very large companies,' he said, adding that any announcement on a deal was not likely until the end of the first quarter next year.
Algerian state energy company Sonatrach holds a 25 percent stake in the field alongside Petroceltic, which has 56.625 percent, and has a pre-emption right over any deal, said O'Cathain.
The company announced positive results from a flow test carried out on the field earlier on Monday.
(Reporting by Sarah Young; editing by Rhys Jones) Keywords: PETROCELTIC/
(sarah.young@thomsonreuters.com; +44 20 7542 1109; Reuters Messaging: sarah.young.thomsonreuters@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2011. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
STOCKS NEWS EUROPE-Petroceltic trades post share consolidation
Irish oil and gas company Petroceltic International trades at 157.50 pence after a previously announced share consolidation by the company - which wa[10 Jun '13]
STOCKS NEWS EUROPE-UK small caps flat at midday
UK small caps and AIM are both flat in lunchtime trade, outperforming losses of 0.6 percent on the mid-caps and 0.7 percent on the blue chips.Sirius M[24 May '13]
Petroceltic abandons Black Sea exploration well off Bulgaria
May 24 (Reuters) - Petroceltic International Plc said it would abandon an exploration well off the Bulgarian coast that failed to yield enough gas t[24 May '13]
Petroceltic postpones listing to complete Isarene permit deal
May 17 (Reuters) - Petroceltic International Plc said it would postpone its move to the official lists of the London and Irish stock exchanges as it[17 May '13]
Petroceltic reports oper profit on Melrose Resources buy
April 22 (Reuters) - Irish oil and gas company Petroceltic International Plc reported an operating profit helped by the producing assets of recently[22 Apr '13]
RESEARCH ALERT-Petroceltic: HSBC starts with overweight rating
Jan 8 (Reuters) - Petroceltic International PLC: * HSBC starts with overweight rating For a summary of rating actions and price[8 Jan '13]
BRIEF-Petroceltic sees 2013 production range of 25-27 mboepd
LONDON, Jan 7 (Reuters) - Petroceltic International PLC: * 2012 production in-line with guidance * 2013 forecast production range of 2[7 Jan '13]
BRIEF-Petroceltic says Algeria gives go-ahead to Ain Tsila field
LONDON, Dec 21 (Reuters) - Petroceltic International PLC: * Intnl - regulatory approval - ain tsila * Petroceltic - algerian authoriti[21 Dec '12]
