PET Petrel Resources Plc

TIDMPET

RNS Number : 9733F

Petrel Resources PLC

27 February 2018

27(th) February 2018

Petrel Resources plc

("Petrel" or "the Company")

Update on Petrel Joint Venture with Woodside Energy

Petrel Resources plc is pleased to announce its receipt, after Government approval, of a 10% interest in Licensing Option 16/14, which is operated and currently held 100% by Woodside Energy. LO 16/14 is a 1,579 km(2) Licensing Option, approximately 150km southwest of Ireland, which covers Blocks 54/11, 54/12, 54/13, 54/16, 54/17 & 54/18.

The partners have applied to convert the Licensing Option to a full Frontier Exploration Licence. An extensive 3D state-of-the-art seismic survey was acquired by contractor PGS during summer 2016. This 'Granuaile' dataset has been processed by Down Under GeoSolutions, and final products are due to be delivered to the Operator shortly.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

ENDS

For further information please visit http://www.petrelresources.com/ or contact:

Enquiries:

 
 Petrel Resources 
 John Teeling, Chairman          +353 (0) 1 833 2833 
 David Horgan, Director 
 
 Nominated Adviser and Broker 
 Northland Capital Partners 
  Limited 
 Edward Hutton / Gerry Beaney 
  (Corporate Finance)            +44 (0) 20 3861 6625 
 John Howes 
 
 Public Relations 
 Blytheweigh                     +44 (0) 207 138 3204 
 Nick Elwes                      +44 (0) 783 185 1855 
 Camilla Horsfall                +44 (0) 787 184 1793 
 
 Teneo PSG 
 Luke Hogg                       +353 (0) 1 661 4055 
 Alan Tyrrell                    +353 (0) 1 661 4055 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 27, 2018 02:00 ET (07:00 GMT)

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