News

December 10, 2009

Petroceltic International Enjoys Sweet News As Even The Non-Sweet Spots Deliver Commercial Flow Rates From The Giant Ain Tsila Discovery In Algeria

For years Petroceltic International has maintained that the Ain Tsila structure deep in the Algerian desert was a multi-tcf prospect with the potential to be a company-maker. While the company-making bit has still to be proven –after all, it’s one thing to find gas in Algeria, quite another to monetise that gas, just ask backers of First Calgary – it seems increasingly clear that Ain Tsila does indeed hold large volumes of gas.

Dublin-based Petroceltic is engaged in a multi-well programme on its Isarene permit in Algeria’s under-drilled Illizi Basin. The five-to-seven well programme is designed to follow-up existing discoveries on the 7,500 sq km licence (prior to this campaign, there had been 16 wells drilled here, with Petroceltic responsible for the two most recent) in order to prove up the commercial potential of the acreage before the end of the second exploration phase in April 2010. This will allow the...