Energy: Petroceltic to begin oil exploration in Kurdistan

Irish oil and gas exploration company Petroceltic is expected to begin drilling the first of two oil exploration wells in Kurdistan within the next two weeks.

3rd August, 2013
The deserts of Shakrok.

Irish oil and gas exploration company Petroceltic is expected to begin drilling the first of two oil exploration wells in Kurdistan within the next two weeks.

Success at its Shakrok or Dinarta prospects in the northern region of Kurdistan would have a "material impact on current market valuations", according to Guava Stockbrokers, which added that the stock looked "excellent value".

Davy said: "Recent results in the region testify to a very large exploration prize We...

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