Director Holdings

Dublin

17th October 2011

Petroceltic International plc

Directors Dealings

Petroceltic International plc ("Petroceltic" or "the Company"), was notified on 14th October 2011 that Brian O'Cathain, an executive director of the Company, acquired 1,000,000 ordinary shares of €0.0125 each at a price of 5.20p each on that day.

As a result of this transaction, Mr O'Cathain holds a total of 3,776,821 ordinary shares representing approximately 0.16% of the issued share capital of the Company.

The Company was also notified on 14th October 2011 that Alan McGettigan, an executive director of the Company, acquired 1,115,968 ordinary shares of €0.0125 each at a price of 5.30p each on that day.

As a result of this transaction, Mr McGettigan holds a total of 4,177,320 ordinary shares representing approximately 0.18% of the issued share capital of the Company.

Ends

For further information, please contact:

Brian O' Cathain/Alan McGettigan Petroceltic International Tel: +353 (1) 421 8300

Philip Dennis/Rollo Crichton Stuart, Pelham Bell Pottinger Tel: +44 (20) 7861 3919

Joe Murray / Joe Heron, Murray Consultants Tel: +353 (1) 4980300

Hugh McCutcheon / John Frain, Davy Tel: +353 (1) 679 6363

Notes to Editors:

Petroceltic International plc is a leading Upstream Oil and Gas Exploration and Production Company, focused on the Mediterranean and North African area, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's ESM Market. The Company has exploration and appraisal assets in Algeria, the Kurdistan Region of Iraq and Italy.