Petroceltic : Adjournment of EGM

Dublin

6 June 2014

Petroceltic International plc

("Petroceltic" or the "Company")

Adjournment of Extraordinary General Meeting ("EGM")

Further to the publication of the Company's circular and notice of EGM on 16 May 2014 (the "Circular"), Petroceltic today announces that it is proposing to adjourn the EGM scheduled to take place on 9 June 2014. This decision has been taken following consideration of the recent announcements made by Worldview Capital Management and the subsequent discussions between the Company and Worldview, which are continuing.

The adjourned meeting will be held on 16 June 2014. Further details regarding the meeting (including time and place) will be announced as soon as possible. Davy, HSBC and Mirabaud have consented to the proposed adjournment in accordance with the terms of the Placing Agreement.

A further update by the Company will be made in due course.

Ends

For further information, please contact:

Brian O'Cathain/Tom Hickey, Petroceltic International plc                 Tel: +353 (1) 421 8300

Philip Dennis / Rollo Crichton-Stuart,

Pelham Bell Pottinger                                                                         Tel: +44 (20) 7861 3919

Joe Murray / Joe Heron, Murray Consultants                                      Tel: +353 (1) 498 0300

John Frain / Roland French, Davy                                                      Tel: +353 (1) 679 6363