PCI.L Share News (PCI)

Shares in Irish oil group PetroCeltic fell back after it an update on drilling operations in Algeria.At testing at AT-6 in the Ain Tsila field in the southeast of the North African country, the presence of gas was confirmed, but PetroCeltic added: "The well was subsequently lifted with nitrogen to aid clean up however no flow was observed."Chief executive Brian O' Cathain said: "Although no gas flow rate has been achieved at this location, the result of the AT-6 well confirms the presence of the Ain Tsila gas column to the south of the 3D seismic area and provides further evidence of the significant scale of the Ain Tsila in place gas resource."At 10.00am, shares in PetroCeltic were down by 0.97p at 4.16p.