PCI.L Regulatory News (PCI)

Petroceltic International PLC ("Petroceltic" or "the Company")

Exercise of Options

Application has been made to the Irish Stock Exchange and to the London Stock Exchange for 2,800,000 New Ordinary Shares of nominal value €0.0125 each in the capital of the Company to be admitted to trading on the IEX Market of the Irish Stock Exchange and the Alternative Investment Market of the London Stock Exchange respectively. Dealing is expected to commence in these shares on 10th May 2010.

These Ordinary Shares have been allotted pursuant to the exercise of options. These shares rank pari passu in all respects with the existing Ordinary Shares of the Company. The total number of shares now in issue (inclusive of the above issue) is 2,014,355,049 ordinary shares of €0.0125 each.

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