Petroceltic hoping to expand portfolio

OIL AND gas explorer Petroceltic hopes to add to its portfolio of licences over the next year. The company told shareholders at its annual general meeting in Dublin yesterday that it was continuing to explore opportunities to expand its existing portfolio in Algeria and Italy.

Speaking after the meeting, chief executive Brian O’Cathain said the company was looking at areas such as the Mediterranean, Africa and the Middle East.

The company also held an extraordinary general meeting at which shareholders approved a plan to raise a further $60 million through a placing of 350 million new shares…read more

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