New Projects and good prospects. will be the winner in 2004. IMO
25p in early 2004

Petroceltic International PLC (Petroceltic International) is proposing to establish a new Irish-incorporated holding company of the Petroceltic Group by way of a Scheme of Arrangement (the Scheme) on the following basis:

1 Interim Petroceltic PLC Ordinary share for each Existing Petroceltic International Ordinary share held.

Then,

every 25 Interim Petroceltic PLC Ordinary shares will be consolidated into 1 New Petroceltic PLC Ordinary share (the Consolidation).


Important Information & Other Key Dates:

On 3rd May 2013, Petroceltic International announced it is proposing to establish a new Irish-incorporated holding company of the Petroceltic Group, to be implemented by means of a Scheme under Section 201 of the Irish Companies Act 1963 of Ireland.

The Board believe that the new holding company proposal will give the Group a more efficient legal and corporate structure, with the Consolidation positioning the Company's share price in a range that is more appropriate to the size of the Company and that is broadly comparable to its peer group.

The Board of Petroceltic International consider the terms of the Scheme and Consolidation to be fair and reasonable and in the best interests of shareholders as a whole.

The Scheme is subject to shareholder approval at a General Meeting and Court approval at a Court Meeting both to be held on 30th May 2013. The Scheme will then be subject to Court sanctioning at a Court Hearing to be held on 25th June 2013. Subject to acquiring the necessary approval, the Scheme is expected to become effective on 26th June 2013.

Prior to the Scheme becoming effective, an application will be made to the London Stock Exchange for the cancellation of listing of the Petroceltic International shares on the Alternative Investment Market (AIM). Subsequently, the last day of dealings in the Existing Petroceltic International shares is expected to be 26th June 2013, with the cancellation of admission to trading expected to become effective at 6:00pm on 26th June 2013.

Please be aware that the New Petroceltic PLC shares will be admitted to trading on the Main Market of the London Stock Exchange on 27th June 2013, with dealing in the New Petroceltic PLC shares expected to commence on the same date.

The Consolidation is also subject to shareholder approval at the aforementioned Annual General Meeting and pursuant to the receipt of such approval, is expected to become effective immediately following the Scheme becoming effective.

When a company consolidates its share capital the number of shares in the Company reduces. This will impact the share price as the total value of shares will remain the same but there are fewer shares in circulation, so the price can increase significantly. You may therefore notice an increase in the share price before we are able to update your account and provide written notification of the effect on your holding.

If you are uncertain if the Consolidation has become effective, please check with our Call Centre before selling your shares as you will be liable for any oversell in your holding.

Should you retain your holding of Petroceltic International shares, we will notify you when the New Petroceltic PLC shares have been credited to your account. This is expected to be on or around 27th June 2013.

Unless you hold your shares in a ShareBuilder account, no fractions of shares will be issued. Any resulting cash entitlements will be dealt with in accordance with our Terms & Conditions (section 11.16).

If your Petroceltic International shares form part of a TradePlan, please note this Scheme and Consolidation will result in the TradePlan being deleted. You will need to log online or call us to set up a new TradePlan in the Petroceltic PLC shares.

If you have a regular investment in place on your Petroceltic International shares, please note that this will not be automatically updated as a result of this Scheme and Consolidation. You will need to log online or call us to amend the regular investment instruction in the New Petroceltic PLC shares.

Should you wish to find more information about the Scheme and Consolidation, please visit the Petroceltic International website, www.petroceltic.com.

And Isarene 2nd farmout is done bar de bureaucracy!

Up over 7p now! Kamchia result cant be far off...

Any target price by September?

300p minimum with consolidation underway!

7 times 25 = 175p a long way to go to 300p!

Than you guys.
Skinny, it is easier to get there from 175 than 7p.

Plenty of drills before September and a number of high impact ones too!

Kamchia result taking time! Tomorrow surely...

P&A again! Cheap stock to be picked up today.................................

Further to our previous communication of 16th May 2013 regarding the Petroceltic International PLC (Petroceltic International) Scheme of Arrangement (the Scheme), we have received confirmation that the Scheme has been withdrawn.


Important Information & Other Key Dates:

On 3rd May 2013, Petroceltic International announced its proposal to establish a new Irish-incorporated holding company of the Petroceltic Group, to be implemented by means of a Scheme under Section 201 of the Irish Companies Act 1963 of Ireland.

The Scheme was subject to shareholder approval at a Special General Meeting and Court approval at a Court Meeting both scheduled to be held on 30th May 2013 immediately after the Company's Annual General Meeting (AGM) on the same date.

On 28th May 2013, the High Court discharged its order convening a meeting to consider the Scheme proposals and as such this meeting was adjourned. The Company have therefore formally announced the withdrawal of the Scheme.

The 1 for 25 Interim share Consolidation was however approved at the company's AGM held on 30th May 2013.

The Company have not yet confirmed when the Consolidation will become effective, as it was expected to become effective immediately following the Scheme. Should you retain your holding of Petroceltic International shares, we will notify you when the Consolidation has become effective or upon receipt of any further information from the Company.

We will know when we see a Quantum Leap in SP!!!

StockMarketWire.com
Petroceltic International said a consortium comprising it, Hellenic Petroleum S.A.and Edison International has submitted a successful bid for the Patraikos block, offshore western Greece.

Each of the JV companies would hold a one third working interest in the concession.

The Patraikos block is in the Gulf of Patra and covers an area of 1,892 square kilometres with water depths principally in the range of 100 to 300 metres.

The concession is potentially oil prospective in the Jurassic, Cretaceous and Eocene formations with a working hydrocarbon system proven by the Katakolon oil discovery wells drilled in 1982 approximately 35 kilometres south of the block.

for a further £2.50, they could probably have bought the whole of greece itself!

Prefer their oil to their cuisine,thanks!

certainly a sad indictment that you eat far better greek (cypriot) food in london than probably anywhere in greece itself

Love Italian food but well fed up with continued ban on Adriatic drilling. UK PM meeting new Italain PM tomorrow and said drill ban is on agenda.

Yesterday's large volume is signaling a change of direction over 2M, when lately was around the 300K

Breaking also from the bottom ( maily flat ) resistance 140p



as usual - money am - volume is wrong
chart also

That's much better

Already breaking 150p middle price, the trend is up and a target short term of 175 / 180p