Petroceltic International PLC Senior Bank Facility Update (6698P)
February 22 2016 - 2:01AM
UK Regulatory
TIDMPCI
RNS Number : 6698P
Petroceltic International PLC
22 February 2016
Dublin
22 February 2016
Petroceltic International Plc
Senior Bank Facility Update
Petroceltic International plc (AIM: PCI) ("Petroceltic" or the
"Company"), the oil and gas exploration, development and production
company, today announces that, following the announcement by the
Company on 23 December 2015 of its strategic review, it has
received a further waiver of repayments under its Senior Bank
Facility to 4 March 2016. This waiver is conditional upon, inter
alia, continued satisfactory progress in relation to the progress
of the various initiatives being undertaken pursuant to the
strategic review.
The Company's lenders have also indicated their willingness to
consider such further waivers as may be required to continue the
strategic review process based on circumstances applying at the
time of any application.
Further announcements on the Company's financial position, and
the status of the strategic review, will be made as and when
appropriate.
Ends
For further information, please contact:
Brian O' Cathain /Tom Hickey, Petroceltic International Tel: +353 (1) 421 8300
James Henderson / Rollo Crichton-Stuart, Bell Pottinger Tel: +44 (20) 3772 2500
Douglas Keatinge / Joe Heron, Murray Consultants Tel: +353 (1) 498 0300
John Frain / Roland French, Davy Tel: +353 (1) 679 6363
The Directors of Petroceltic International plc accept
responsibility for the information contained in this announcement.
To the best of their knowledge and belief (having taken all
reasonable care to ensure that such is the case), the information
contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such
information.
Notes to Editors:
Petroceltic International plc is an Upstream Oil and Gas
Exploration and Production Company with interests in North Africa,
the Mediterranean and Black Sea regions, 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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