Celtic sells exploration rights

Exploration firm Celtic Resources has completed an agreement with Victoria Oil & Gas Plc to sell their oil and gas exploration interests in Kazakhstan and the British North Sea.

The value of the consideration for the sale is £2 million (€2.97 million) to be satisfied by the issue of 6.48 million shares in Victoria.

In addition, Victoria has undertaken to arrange for the repayment of the outstanding loan balance of £302,447 (€450, 354).