TIDMPET

RNS Number : 8799A

Petrel Resources PLC

17 September 2018

17(th) September 2018

Petrel Resources plc

("Petrel" or "the Company")

Update regarding contract for the Tano 2A Block

Petrel Resources, the oil and gas exploration company with an interest in Ghana, is pleased to announce that the Company's Directors believe they have resolved the outstanding issues with the Ghana National Petroleum Corporation (GNPC) regarding a contract for the development of the Tano 2A Block (the 'Petroleum Agreement'). As such, all legal proceedings have been withdrawn and the Company looks forward to making further announcements regarding the Petroleum Agreement in due course.

David Horgan, Director, commented:

"We are delighted to report that all outstanding issues have now been resolved with GNPC regarding our Tano 2A Block. All legal proceedings have been withdrawn so, after normal consultations, the next stage is for the Petroleum Agreement to be sent to Cabinet for review. I look forward to providing further announcements as appropriate."

This announcement contains inside information for the purposes of Article 7 of Regulation 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 
 David Hignell / Edward Hutton (Corporate 
  Finance)                                   +44 (0) 20 3861 6625 
 Rob Rees / Isabella Pierre 
 
 Public Relations 
 Blytheweigh                                 +44 (0) 207 138 3206 
 Simon Woods                                 +44 (0) 746 643 9633 
 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

UPDLIMATMBIBBPP

(END) Dow Jones Newswires

September 17, 2018 02:00 ET (06:00 GMT)

Petrel Resources (LSE:PET)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Petrel Resources Charts.
Petrel Resources (LSE:PET)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Petrel Resources Charts.