An amended survival scheme for Petroceltic International and two related companies which sees the troubled explorer taken over by Cayman-Islands-based fund Worldview has been approved by the High Court.

Senior staff at Petroceltic International are expected to voice concerns about the alleged writing-down of their employment rights, in opposing a survival scheme for the company due to be put before the High Court for approval next week.

A £6.4m (€8.1m) takeover bid for Irish exploration company Petroceltic from a firm owned by the company’s largest shareholder Worldview Economic Recovery Fund has lapsed.

The High Court has confirmed examinership for troubled exploration company Petroceltic and two related companies.

HSBC Holdings is discovering that the oil crash extends far beyond the deserts of the Gulf, the plains of west Texas, and the shale fields of North Dakota. Even Petroceltic, the small energy company in Dublin, can inflict pain.

Irish exploration firm, Circle Oil, has effectively placed itself up for sale, by initiating an “all options” strategic review to reduce debt, maintain sufficient cash-flow, and maximise shareholder value.

An interim examiner has been appointed by the High Court to exploration company Petroceltic and two related companies.

Worldview, a dissident shareholder in exploration firm Petroceltic, has brought a High Court petition aimed at securing court protection for Petroceltic and the appointment of an examiner.

Petroceltic’s main independent shareholder is considering a takeover offer for the troubled Irish exploration firm.

The activist investor challenging boardroom control at Irish exploration firm, Petroceltic has claimed support is growing for its endeavours.

Irish oil and gas exploration firm Petroceltic was yesterday granted an injunction preventing an extraordinary general meeting that had been called by its largest shareholder, Worldview, from going ahead.

The bid by Irish oil and gas exploration firm Petroceltic to prevent one of its shareholders from convening an extraordinary general meeting will be opposed, the High Court was told yesterday.

Irish oil and gas exploration firm Petroceltic is to seek a High Court injunction preventing one of its shareholders from convening an extraordinary general meeting.

Irish exploration firm Petroceltic has criticised calls for yet more company EGMs and has reiterated its view that activist investor Worldview Capital Management’s sole interest lies in eroding the company’s value to a point where it can gain control of the business for less than fair value.

Irish exploration firm Petroceltic has put the blame for its recent share price slide squarely at the door of activist investor Worldview Capital Management, accusing it of trying to force a sale of the company.

Petroceltic has ruled out holding a shareholder vote on its proposed debt financing round, which is expected to raise around $175m (€160m) by the end of this month.

The board of Irish exploration firm Petroceltic has 21 days to decide to call an EGM as requested by activist investor Worldview Capital Management.

Activist investor Worldview Capital Management has ignited a fresh war with Irish exploration firm Petroceltic, claiming the latter’s debt-raising plans put control of its chief asset at stake.

Worldview Capital Management is set to formally challenge the result of yesterday’s shareholder vote that saw investors side with Dublin explorer Petroceltic in the stand-off between the two parties.

The activist investor at the centre of the ongoing board battle at Irish explorer Petroceltic is confident its push for a change to the company’s management and operational strategy will succeed this year, even if it loses the vote at next week’s shareholder meeting.

The three largest global share advisory firms have come out in support of the Petroceltic board in its battle for control of the company.

Petroceltic is confident a bid by its main shareholder to unseat its chief executive and overhaul its board will be rejected at an investor vote later this month.

Petroceltic’s largest independent shareholder has vowed not to back any further capital raising efforts by the Dublin-based explorer until its board is shaken up and CEO Brian O’Cathain removed.

Exploration firm Petroceltic has urged its shareholders to vote against resolutions being tabled by activist investor, Worldview Capital Management, in an upcoming ballot effectively saying its only aim is to gain control of the company without having to buy it out.

Oil producer Petroceltic International’s largest shareholder has called for an extraordinary general meeting of the Irish company’s shareholders to oust chief executive Brian O’Cathain.

Irish oil producer Petroceltic is being sued by its largest shareholder, Worldview Capital Management, which has also called for the resignation of chief executive Brian O’Cathain.

Exploration firm Dragon Oil has an official window of three weeks to put up or shut up regarding the prospect of a takeover of the Irish firm Petroceltic.

Two former executives of defunct Russian oil company Yukos Oil have joined the board of Irish explorer Petroceltic.

Petroceltic’s contentious $100m-share placing plan is expected to get the green light next week, on the back of the firm agreeing a major restructuring of its board with its largest independent shareholder.

Shares in Irish exploration firm Petroceltic fell by over 7% yesterday on the back of further negative drilling news from its operations in Kurdistan.