The shares of exploration company Petroceltic have been readmitted to the ESM market of the Irish Stock Exchange and the AIM market on the London Stock Exchange.

This follows its recent merger with Melrose Resources.

Petroceltic is focused on North Africa, the Mediterranean and Black Sea areas.

It has cash generating production interests in Egypt and Bulgaria, development sites in Algeria and high-impact exploration in Iraq, Italy, Romania, Bulgaria and Egypt.

It said it plans to start on an active exploration drilling campaign in the next 18 months, with exploration wells planned in the Kurdistan region of Iraq, Italy, Romania, Bulgaria and Egypt.

The company also said today that Andrew Bostock has resigned as a non-executive director of the company. He has been a director for over five years and served as chairman from 2009 to 2010.