Stock Take: Market week

Petroceltic’s battle with key shareholder set to rage on in 2015

3rd January, 2015
21

Petroceltic’s biggest shareholder, Worldview, has called for the resignation of chief executive Brian O’Cathain after Dragon Oil dropped its bid to buy the Irish oil explorer.

“Worldview’s actions appear rather heavy-handed and we would be surprised if calls for management change garnered popular support. Moreover, we would add that Dragon Oil’s decision to withdraw from takeover talks was entirely down to the falling oil price and unrelated to Petroceltic management.”...

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