EGM - Supplemental Loan Agreement with Dragon Oil

Celtic Resources Holdings PLC 1 November 1999 Celtic Resources Holdings plc ('Celtic' or 'the Company') At an Extraordinary General Meeting held in Dublin on 30 October, 1999 shareholders in Celtic approved inter alia the Supplemental Loan Agreement with Dragon Oil PLC, the alteration to the Articles of Association in respect of new 'A' Preference Shares, an increase of the authorised share capital of the Company and, subject to completion of the subscription by Redhaven Limited for 13 million Ordinary Shares in Celtic, the appointments to the board of Mr. Kevin Foo and Mr. Michael Kaufman as executive and non-executive directors respectively.