News

April 30, 2009

Petroceltic International Prepares For Key Drillbit Test Of Its Algerian Acreage

The coming year should prove exciting for backers of Petroceltic International, which is gearing up to drill seven wells across its Isarene permit in Algeria this summer and laying the groundwork for the first drillbit test of its Italian acreage in 2010. This work is backed by the deep pockets of its Spanish backer Iberdrola, which last summer took a 22 per cent stake in the AIM firm following an initial US$55 million investment, plus an additional US$40 million in new funds following...