Tag Archives | Ireland

Petrel Resources "Incurs no Costs" in Iraq

By John Lee. In its Interim Statement for period ended 30 June 2015, Irish-based Petrel Resources issued the following update on its operations in Iraq: "Our third theatre of activities is Iraq, where we have had a presence for 18 years. The original Petrel interest was in Block 6 in the Western Desert between Baghdad […]

Petrel says "Virtually no Activity" in Iraq

By John Lee. In a statement to the company's Annual General Meeting in Dublin on Wednesday, the Chairman of Petrel Resources, John Teeling, said that there is "virtually no activity" at the company's interests in Iraq. "The Block 6 acreage in Anbar province is a no-go area. There remains a belief that the authorities in […]

Dragon Oil Updates on Block 9 Progress

By John Lee. In its Interim Management Statement this morning, Dragon Oil gave the following update on its operations at Block 9 in Iraq: "In 2014, the partners in Block 9 in Iraq, announced the discovery of oil in two formations in the consortium's first exploration well, Faihaa-1 in which Dragon Oil holds 30 percent. […]

Broker Tips Petroceltic

By John Lee. Shares in Petroceltic plc were trading up nearly 4 percent on Tuesday, following a positive note from a London-based broker. Peel Hunt analyst James Carmichael claims that near-term drilling in Iraqi Kurdistan could significantly increase Petroceltic’s resource base. Proactiveinvestors says the broker has a ‘buy’ recommendation and a 202p price target for […]

Petroceltic Shares Slump, CEO Increases Stake

By John Lee. Dragon Oil said on Monday that it was backing out of plans to make an offer of 230 pence a share for Irish operator Petroceltic, which has interests in Iraqi Kurdistan. Shares in Petroceltic closed down 35 percent at 112.45 pence on Monday, 50 percent below their recent peak. Chief Executive Brian […]

SNC-Lavalin/Kentz Wins $97m Deal

By John Lee. SNC-Lavalin has announced that Kentz Corporation, a member of the SNC-Lavalin Group, has signed a Project Management Contractor Agreement in Iraq with one of the world's leading blue-chip International Oil Companies (IOC) for a three-year term with a potential value of up to approximately US$97 million (113 billion Iraqi dinars). The contract […]

Petroceltic Shares Surge on Possible Offer

By John Lee. Shares in Irish-based Petroceltic International have risen more than 20 percent on Monday following the announcement of that the company is in detailed discussions regarding a possible offer to be made by Dragon Oil. With the support of the Board and management team of Petroceltic, Dragon Oil has completed an extensive confirmatory […]

Petrel Resources Updates on Prospects

By John Lee. As part of its Interim Statement, Petrel Resources has given the following update on its Iraq operations: "The political uncertainty and civil strife in the Middle East makes it difficult to be optimistic about our activities in Iraq. But progress has been made. A new government has been formed. The Minister of […]

Teeling Updates on Petrel Resources

By John Lee. As part of his statement to the AGM of Petrel Resources, Executive Chairman John Teeling made the following comment on the company's operations in Iraq: "Petrel has a 5% full free carry on the interests held by Oryx in the Wasit province of Iraq. "This is held via a 20% shareholding in […]

Board Changes at Petroceltic

Further to the announcement by the Company on 16 June 2014, Petroceltic, the independent oil and gas exploration and production company focussed on the Middle East, North Africa, Mediterranean and Black Sea regions, today announces a number of changes to the Board of the Company with immediate effect. The Company welcomes Mr Don Wolcott and […]

Petroceltic Abandons Shakrok-1, Shares Slump

By John Lee. Shares in Irish independent oil and gas exploration company Petroceltic International closed down 9.6 percent on Monday, following the company's update on its operations in the Kurdistan Region of Iraq. On the Shakrok licence (Petroceltic 16%, Hess (Operator) 64% and Kurdistan Regional Government 20%), the Shakrok-1 well reached its total depth of […]

Asiacell Selects Anam Technologies

Anam Technologies, a Irish mobile messaging software solutions provider for mobile operators, has announced that they have been selected by Asiacell to provide its SMS Firewall service ANTISpam. The service was selected by Asiacell to enhance the operator’s ability to detect and block spam traffic from entering its network and protect its customers from receiving […]