Middle East Economic Survey

VOL. LIII

No 14

05-April-2010

REGIONAL

Petroceltic Raises $120Mn For New Drilling Program

Irelands Petroceltic International has raised approximately $120.5mn from new and existing institutional shareholders to fund a six-well drilling campaign on its concessions in Algeria, Tunisia and Italy later this year, it said on 29 March. The amount was raised by means of a conditional placing of 635,294,000 new ordinary shares priced at 12.75/share. At least three appraisal...