Petroceltic International plc (AIM: PCI) ("Petroceltic" or the "Company"), the oil and gas exploration, development and production company focused on North Africa, the Mediterranean and Black Sea regions is pleased to announce the approval by the Council of Ministers in Algeria on 22 July of the transfer of its interest in the Isarene Production Sharing Contract in Algeria to its wholly owned subsidiary company Petroceltic Ain Tsila Limited.

This transfer will become fully effective upon formal gazetting in the Official Journal of Algeria, which is expected over the coming weeks.

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Petroceltic International plc is a leading Upstream Oil and Gas Exploration and Production Company, focused on the North Africa and the Mediterranean Region, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's ESM Market. The Company has production, exploration and development assets in Algeria, Egypt, Bulgaria and Italy.