Petroceltic funding provides fresh firepower in Algeria

The energy exploration company says the risks are high but so are the potential rewards, as it raises more investment to exploit a massive gasfield

14th May, 2011

Petroceltic keeps going to the well.

Last week, the small cap oil and gas exploration company asked shareholders for another cash injection to bankroll a potentially game-changing project for the high-risk, capital-intensive business.

The $60million share placing on London’s AIM last Friday was the third cash call by the £220million company in just over a year.

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