Petroceltic upbeat about drillings

John Craven, the chief executive of Petroceltic, said he was confident that the company’s drilling campaign in Algeria over the next ten weeks would lead to a major success.

8th July, 2006

John Craven, the chief executive of Petroceltic, said he was confident that the company’s drilling campaign in Algeria over the next ten weeks would lead to a major success. His comments come after speculators sparked a significant increase in the company’s share activity.

It emerged last week that Man Financial, which sells highly leveraged contracts for difference (CFD), held over 3 per cent of Petroceltic. Man bought the shares to offset...

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