Executive Summary
Petroceltic International (LON:PCI) is an oil and gas company that is involved in exploration and production activities in the Mediterranean basin and in the Middle East North Africa. The company is listed on both the AIM and the IEX. Headquartered in Dublin, Petroceltic has operations in three main countries; Italy, Tunisia and Algeria. In 2009, it earned revenue of $210,000 and it made an operating loss of $6.1m. In July 2010, the company secured the drilling services of Dalma Energy LLC in order to appraise four wells in Algeria. Petroceltic has already successfully appraised five wells in the same area having found a probable and substantial gas accumulation.
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