FORM38.5(a)

IRISH TAKEOVERPANEL

DISCLOSURE UNDER RULE 38.5(a) OF THE IRISH TAKEOVERPANEL ACT,1997, TAKEOVERRULES, 2013

DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS WITH RECOGNISED INTERMEDIARYSTATUSAND DEALING IN A CLIENT-SERVINGCAPACITY

1.       KEYINFORMATION

Name of exempt principal trader

 J&E Davy t/a Davy

Company dealt in

 Petroceltic International plc

Class of relevant security to which the dealings being disclosed relate (Note1)

 Equities

Dateofdealing

 7.11.2014

2.        DEALINGS (Note2)

(a)      Purchases and sales

Totalnumber of relevant securities acquired

Highest price paid (Note3)

Lowestpricepaid

(Note3)

32636

£1.94

£1.9025

Totalnumber of securities disposed

Highest price received (Note3)

Lowest price received

(Note3)




(b)      Derivatives transactions (other than options transactions)

Product name,

e.g.CFD

Nature of transaction

(Note4)

Number of relevant securities

(Note5)

Price per unit

(Note3)






(c)      Options transactions in respect of existing relevant securities

(i)       Writing,selling, purchasing or varying

Productname,

e.g.calloption

Writing,selling,purchasing,varying etc.

Numberofsecuritiestowhichtheoptionrelates (Note5)

Exerciseprice

Type,e.g.American,European etc.

Expirydate

Optionmoneypaid/receivedper unit (Note3)








(ii)      Exercising

Product name,

e.g.calloption

Number of securities

Exercise price per unit(Note3)




3.     OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

Full details of any agreement, arrangement or understanding between the person disclosingandanyotherpersonrelatingtothevotingrightsofanyrelevantsecurities

underanyoptionreferredtoonthisformorrelatingtothevotingrightsor future

acquisition or disposal of any relevant securities to which any derivative referredtoonthisformisreferenced.Ifnone,thisshouldbestated.

Date of disclosure

 10.11.2014

Contact name

 Emily Hoyne

Telephonenumber

 01 6149009

Nameofofferee/offerorwithwhichconnected

 Petroceltic International Plc/ Dragon Oil plc

Natureofconnection(Note6)

 Connected EPT Petroceltic International Plc/Dragon Oil plc


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