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.

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.

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.

Having wiggled and waggled his way to winning a world championship, the country’s latest antidote to austerity blues arrived home last night to the kind of welcome only a hero deserves.

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 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.

A sharp increase in the price of fish resulted in a Dingle-based fish processing firm almost doubling its pre-tax profits in 2010.

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 remains on course to see commercial gas flows from its Isarene field in southern Algeria by 2015, after encountering better than expected results from its latest round of test drilling in the area.

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.

EMBATTLED Bishop of Limerick, Donal Murray was last year linked to a controversial attempt by a Church body to prevent the publication of the damning Cloyne report into clerical sex abuse.