Petroceltic International PLC (PCI.LN), an oil and gas explorer focused
on North Africa, the Mediterranean and the Black Sea, Friday said the
legal process to determine the value of a contingent payment due from
Enel Trade SpA in relation to the farmout of an interest in the Ain
Tsila project in Algeria has concluded, with the sum confirmed as $26.9
million.
MAIN FACTS:
-The payment is due to be made to Petroceltic on or before August 14
-Petroceltic invoiced Enel for $26.9 million in late 2012
-Shares closed at 138 pence valuing the company at GBP240 million.