Petroceltic: A review of Worldview's concerns

Brian O'Cathain, CEO of Petroceltic Over the last year, Worldview has been very public about its dissatisfaction with Petroceltic's performance and has openly criticised the board of the company. Earlier this year, it tried to remove Brian O'Cathain as CEO and replace the board with two of its own directors. Worldview believe the assets are not being managed properly and that the Ain Tsila development in Algeria could be brought onstream at a...

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The Apache Egypt treasure map

Source: Houston Geological Society, HGS Apache is a significant acreage holder onshore Egypt with an extensive infrastructure network which allows new discoveries to be brought onstream quickly and at relatively low cost. Its acreage can be broadly split into four areas, the most significant of these is the Western Desert Gas area which underpins the portfolio’s gas reserves and is a key supplier of gas to the domestic market. Source: OGInsights  The...

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Apache's Egyptian Jewel

Apache entered Egypt in 1994 and has since built up a dominant onshore position through a series of acquisitions and an aggressive exploration campaign. It is the largest acreage holder in the Western Desert and operates 24 licences. In 2010, Apache expanded its position through the acquisition of BP’s entire Western Desert portfolio as part of a wider transaction involving BP’s North American assets. In 2013, Apache divested 33.3% of its Egyptian...

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