Petroceltic is an oil and gas explorer. It is producing about 25000 barrels of oil a day which accounts for only 20 per cent of its overall income. This means it can comfortably manage its debts and still proceed with 5 other new drilling sites and a further 5 more test sites this year. The prospects look encouraging with the CEO bullish about 2013. With shares valued at a mere 7.5p and various analyst valueing the company between 12p and 21p each there seems every reason to be optimistic.
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