Petroceltic International plc (PCI.L) ("Petroceltic" or "the Company"), the independent oil and gas exploration company focused on the Middle East, North Africa, Mediterranean and Black Sea regions, provides the following update with respect to its operations in the Kurdistan Region of Iraq.

In conjunction with Hess Middle East New Ventures our partner and the operator of our exploration activities in the Kurdistan Region of Iraq we have been closely monitoring recent events in the region. While these developments have not directly impacted our exploration activities to date, in line with other operators in the region, it has been decided, as a precautionary measure, to temporarily secure and suspend operations (including the drilling of Shireen-1 exploration well in the Dinarta licence) and to evacuate non-essential personnel.