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.

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.

Irish exploration firm Petroceltic has pulled out of Kurdistan, citing disappointing drilling results and the continuing low oil price environment among its reasons.

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.

Tullow Oil is to take a $2.3bn (€1.97bn) hit as a result of plummeting world oil prices.

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.

Development drilling is set to recommence at Petroceltic’s headline asset, the Ain Tsila gas field in Algeria, in the first quarter of next year, with the field expected to come on stream in 2018.

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.

The drilling of unsuccessful wells in Egypt, Bulgaria and Romania resulted in Irish oil exploration company Petroceltic reporting a $19m (€13.8m) loss for last year.

Irish oil and gas explorer Petroceltic International has marginally reduced its full- year production targets, due to a slowdown in production at its Egyptian assets.

Irish exploration firm Petroceltic has begun a multi-well drilling round in the Black Sea region which will include the highly anticipated Shakrok-1 well in Kurdistan, which is targeting an estimated 650 million barrels of oil.

Dublin-based exploration company Petroceltic International has extended its southern European footprint into Greece, through the award of a share of a licence off the country’s west coast.

Shares in Irish exploration firm Petroceltic International fell nearly 4% yesterday on the back of the company abandoning an exploration well in one of the territories into which it expanded last year.

Petroceltic — the Dublin- headquartered oil and gas exploration firm — has received formal final regulatory approval for the development of the Isarene/Ain Tsila gas field in Algeria.

Petroceltic has been awarded a share of a new licence in Egypt, for which potential oil prospects have already been identified.

Petroceltic has reported a pre-tax loss of $3.25 million (€2.6m) for the first half of 2012; shaving almost $1m off losses generated in the corresponding period last year.

Irish exploration company Petroceltic has been awarded two licences off the coast of Italy.

Directors’ remuneration at Irish exploration company Petroceltic rose $600,000 (€469,000) last year to just under $2.1m.

IRISH exploration company Petroceltic has reported a pretax loss of $4.1 million (€2.85m) for the first half of this year; down slightly from a loss of nearly $5m for the same period last year.

THE Dublin-based exploration firm Petroceltic has expanded into Iraq, via a joint venture with US oil and gas company, Hess Corporation.

PETROCELTIC, the Irish oil and gas exploration company with assets in southern Europe and northern Africa, has reported a further gas find in Algeria, which technically expands the size of its chief asset, the Isarene field.

IRISH exploration company Petroceltic is actively looking at the likes of Tunisia, Egypt, Morocco and Syria in its bid to broaden its portfolio of assets into new markets.

PETROCELTIC is hoping to expand its portfolio of assets in north Africa on the back of unrest in the region.

IRISH oil and gas exploration company Petroceltic has seen its first-half pre-tax losses widen to just under $5 million (€3.9m), from just over $2m for the same period last year.

Oil and gas exploration firm Petroceltic International has reported a loss of almost $5m (€3.9m) for the first six months of the year.

Oil and gas exploration and production company Petroceltic has signed a contract for drilling rig services with Dalma Energy, a Dubai based drilling contractor.

Petroceltic have raised $26m to fund a drilling campaign at the ELSA offshore discovery in Italy.

IRISH exploration company Petroceltic has conditionally raised $120.5 million (€89.6m) in fresh funding by way of a share placing, in order to fund its international drilling programme planned for the second half of this year.

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

PETROCELTIC, the Irish oil and gas exploration specialist, has issued a strongly positive medium-to-long term outlook, despite reporting a loss of $2.1 million (€1.44m) for the first half of this year.