Petroceltic Seeks Extension for Algerian Project

UK listed Petroceltic confirmed today it is applying for a two-year extension from 26 April 2010 to their permits to appraise the Ain Tsila and Isarene North East finds jointly operated with Algerian national oil company, Sonatrach. An appraisal work programme commencing in the fourth quarter will consist of at least two further wells on the Ain Tsila field and one well on the Isarene North East field, Petroceltic said. Ain Tsila holds between 2.6Tscf and 10.3 Tscf of gas in place. Isarene North East holds between 32 Bscf and 80 Bscf of gas in place and another 17 million barrels to 139 million barrels of oil in place.- Upstream