Petroceltic Provides an Operation Update in Egypt

Petroceltic International plc, the independent oil and gas exploration company focused on the Middle East, North Africa, Mediterranean and Black Sea regions, announces an update on its operations in the Kurdistan Region of Iraq, Romania and Egypt.

Egypt:
The South Dikirnis-1 exploration well (Petroceltic, Operator, 100%) has reached a total depth of 2,895 metres. The well was targeting a stratigraphic trap in the Miocene formation, to the south of the producing West Dikirnis field. Although high quality sandstone reservoirs were encountered in the Miocene, open hole log analysis indicates that the reservoir interval is water bearing.

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