Holding(s) in Company

Celtic Resources Holdings PLC
7 February 2002

Celtic Resources Holdings Plc

07 February 2002



Re: Holding in Company



In compliance with paragraph 4.12 of the Rules of the Exploration Securities
Market, please find attached a copy of a notification of interests received by
the Company on the 05th February 2002.


Eugenee Mulhern

Associate Director

Davy Stockbrokers





            AMENDED NOTICE OF CEASING TO HAVE A NOTIFIABLE INTEREST
                        IN THE RELEVANT SHARE CAPITAL OF
                    CELTIC RESOURCES PUBLIC LIMITED COMPANY
                 IN FULFILMENT OF THE OBLIGATION ARISING UNDER
                   SECTIONS 67 & 91 OF THE COMPANIES ACT 1990

1            To:                                       Celtic Resources Public Limited Company,
                                                       14 Upper Fitzwilliam Street Dublin 2

                                                       And the Irish Stock Exchange, Anglesea Street, Dublin 2
2            Date:                                     4 February 2002
3            From:                                     Dragon Oil Public Limited Company
4            Person/s making the notification:         Dragon Oil Public Limited Company
                                                       6 Fitzwilliam Square
                                                       Dublin 2
5            Notifiable interest in Ordinary Shares of Legal and beneficial ownership of
             €0.021/2 each of and in Celtic Resources
             Public Limited Company ('Celtic Shares')  14,617,885 Celtic Shares, amounting to approximately 9.01% of the
             subsisting immediately before these the   relevant share capital of Celtic Resources Public Limited Company
             acquisitions of interest the subject of   (so far as Dragon Oil plc is aware)
             this notice
6            Transaction disclosed                     The divestment as of 31 January 2002 of the entire shareholding
                                                       of Dragon Oil plc in Celtic Resources Public Limited Company
7            Identity of each registered holder of     Dragon Oil plc - all shares
             shares to which the notification relates
             and the number of shares held by each of
             them
8            Total interest held by Dragon Oil plc     None - no shares held or to be held.
             after the divestment giving rise to the
             notifications contained in this notice




Signed:                                    Date:     4 February 2002


        Mason Hayes & Curran, 6 Fitzwilliam Square, Dublin 2
             Duly authorised agents of the persons making this notification.




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