Petrocelitc enters into agreement with BG Gas

Petroceltic has announced that it has entered into an agreement with BG Gas International BV Italian Branch to acquire BG Italia’s interests in five Exploration Permits in the prolific Po Valley onshore gas basin.

The interests in these permits vary from 50% to 95%. In addition, Petroceltic has agreed to acquire interests in two Exclusive Permit Applications from BG Italia, one in the Po Valley and one offshore in the Sicily Channel in Southern Italy.