Petroceltic receive $2.25m in sale

Exploration company Petroceltic International has received $2.25 million from selling its residual interest in the Shaimerden zinc oxide deposit in the former Soviet republic of Kazakhstan.

The interest was sold to Kazzinc, central Asia's largest zinc producing company.

The proceeds will be used to accelerate the hydrocarbon exploration and drilling activity off the coast of Ireland and in North Africa.