Directors' Dealings, etc

Celtic Resources Holdings PLC
26 November 1999


CELTIC RESOURCES HOLDINGS PLC ('CELTIC')

Celtic announces the following changes in Shareholders interests:

(1)  H.J. Resources Ltd, a company controlled by Messrs Kevin Foo and 
     Michael Kaufman, both directors of Celtic, has acquired 5,510,000 
     million Ordinary Shares of Celtic from Dragon Oil plc ('Dragon'), 
     pursuant to an option arrangement contained in the Subscription 
     Agreement of 12 August, 1999 between Celtic and Redhaven Limited.

(2)  Dragon has converted its 1,758,676 'A' Preference Shares of Celtic 
     into 11,724,506 Ordinary Shares of Celtic, pursuant to the 
     Supplemental Loan Agreement of 26 May, 1999 between Celtic and Dragon.

As a result of the above transactions, the enlarged issued ordinary share
capital of Celtic is 49,143,248 shares of which Dragon now holds 14,617,886
shares (29.7%), while H.J. Resources Ltd holds 8,610,000 shares (17.5%).

ESM Particulars in respect of these and other recently issued Ordinary Shares
will be completed shortly.

For further information, please contact:

Sean Finlay (Celtic)                 + 353 1 6611245
Hugh McCutcheon (Davy Stockbrokers)  + 353 1 6796363
Nigel Heneghan (Heneghan PR)         + 353 1 6607395