Oil and gas company Petroceltic International has launched a civil action against an Aberdeenshire man over claims of millions of pounds being defrauded from the business.
The long-running and bitter battle for control at Irish exploration company Petroceltic has concluded with main shareholder Worldview Capital assuming full control of the company.
Petroceltic has successfully completed the second development well on its flagship Ain Tsila field in Algeria under-budget and on schedule.
Petroceltic today confirmed its successful drilling campaign in Algeria.
Irish oil producer Petroceltic said a court examiner had selected its largest shareholder, Worldview Capital Management, to take control of the group.
A potential takeover by Sunny Hill for Petroceltic has come to a close after the timing for acceptance on the £6.4million bid lapsed.
The High Court in Ireland has confirmed examinership for struggling explorer Petroceltic.
Activist investor Worldview Capital has bought up more of Petroceltic's outstanding debt just days after the Irish junior advised shareholders to accept a takeover offer from Worldview.
Embattled Petroceltic has told shareholders to accept a takeover offer as the firm stares down the possibility of being wound-up.
Petroceltic International today confirmed it had successfully drilled the first of 24 new development wells on its Ain Tsila gas and condensate field in Algeria.
Petroceltic International has acquired most of Worldview's debt in a bid to move towards a financial restructuring.
Petroceltic today confirmed it would suspend its shares from trading on AIM, London’s junior stock exchange, effective immediately amid financial uncertainty.
Petroceltic's second biggest shareholder has said it will not accept the £6.4million offer for the company from activist investor Worldview Capital, stating it substantially undervalues the Irish firm.
Petroceltic said it is unable to give shareholders a firm recommendation to either accept or reject the 3pence per share offer from Sunny Hill capital to buy the company.
Petroceltic International has begun development drilling on its flagship Ain Tsila gas and condensate field in Algeria.
Petroceltic has completed the sale of a number of exploration licences in Egypt.
Petroceltic could be bought over by Worldview Capital, after recently putting itself up for sale. The move comes after Worldview released a statement in which it said it was in the process of "evaluating and preparing for a possible all cash offer" for the shares in Petroceltic.
Petroceltic, the Irish oil and gas company focused on North Africa, Mediterranean and Black Sea, has received a further waiver of repayments from its lenders until January 29 as it seeks to find a buyer.
Petroceltic said it was considering a number of options for the company’s future including the sale of some or all of its assets. The board said options being considered include a farm-out or sale of one or more the company’s existing assets, a merger with a third part, or the sale of its entire issued share capital in the form of debt or subscription of new ordinary shares.
The Irish High Court has granted independent oil and gas producer Petroceltic an injunction prohibiting activist investor Worldview Capital from proceeding with its attempt to hold another extraordinary general meeting.
Exploration company Petroceltic has told its shareholders that activist investor Worldview Capital's attempt to convene a further extraordinary general meeting is unlawful.
Irish oil producer Petroceltic has appointed chartered accountant Hugh Cawley as a non-executive director.
Irish oil producer Petroceltic has launched legal proceedings in an attempt to identify an anonymous blogger who it claims has made defamatory claims relating to one of its top directors.
Irish oil and gas producer Petroceltic has invited bids from contractors to begin work on its flagship gas plant in Alergia,
Petroceltic has backed down in its drawn-out bond battle, but the firm has stopped short of admitting defeat.