Petroceltic International, the North Africa-focused oil and gas company, says a well test at its Ain Tsila field in Algeria has produced "excellent flow results".
The AT-9 well produced gas at the rate of 43.9 million standard cubic feet per day without Petroceltic having to resort to fracture stimulation or "fracking".
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Commenting on the results Brian O'Cathain, chief executive of Petroceltic, said "this result strongly supports commercialisation of the field and the current Field Development Plan which will be submitted to the Algerian competent authorities in January 2012".
Shares in Petroceltic have risen 7% in morning trading to 7.17p.
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