PCI.L Regulatory News (PCI)

30 Aug 2006 17:15

Petroceltic International PLC30 August 2006 PETROCELTIC INTERNATIONAL PLC ("Petroceltic") Donegal Drilling Update Lundin Petroleum AB, the operator of the Inishbeg exploration well 13/12-1,today issued the following press release: "Lundin Petroleum AB has completed the drilling of the Inishbeg exploration well13/12-1, offshore Ireland. The well has been plugged and abandoned withouttesting due to lack of reservoir development. Participants in Frontier Exploration Licence 1/05 are Lundin Petroleum (30.00%),Island Oil and Gas (31.00%), Lansdowne Oil & Gas (19.25%), PetrocelticInternational (16.25%) and Sunningdale (3.50%)." Press queries to: John Craven/Philip O'QuigleyPetroceltic International plcTel: (01) 495 9285 Ronnie SimpsonSimpson FT PRTel: +3531 260 5300 Billy CleggFinancial DynamicsTel: +442072697157 The above information has been reviewed and verified by Mr. John Craven,Director and Chief Executive Officer of Petroceltic, for the purposes of theGuidance Note for Mining, Oil and Gas Companies issued by the London StockExchange in March 2006. 30 August, 2006 This information is provided by RNS The company news service from the London Stock Exchange