EXPLORATION company Petroceltic, which changed its name from Ennex last year, recorded a minor profit of $33,000 (€27,000) in the first six months of the year, down from $69,000 in the same period last year.

Exploration company Petroceltic, previously known as Ennex, has signed a contract with Great Wall Drilling Company to provide drilling apparatus for work on its Sidi Toui 3 oil well in southern Tunisia. Work will start in the area within weeks.

IRISH companies looking to expand quickly should list on London's Alternative Investment Market (AIM), the exchange's deputy head told entrepreneurs in Dublin yesterday.

OIL and gas company Petroceltic, which changed its name from Ennex last year, said yesterday that it had signed a deal to take a 40% stake in two exploration sites in Italy.

INVESTORS breathed a sigh of relief yesterday as equity markets halted their slide on guarded comments from the chairman of the Federal Reserve, Alan Greenspan.