Petroceltic bullish over Algerian well

IRISH oil and gas exploration company Petroceltic has reported positive results from its latest drilling round at its INE-2 well in southern Algeria.

Drilling at the site began in June and the new test results have shown that it holds a commercial flow rate.

The site forms part of the Isarene Block on the ISAS structure and is located close to the Ain Tsila Ridge discovery, which Petroceltic made earlier this year, and which has just been listed as the 10th largest gas discovery in the world this year.