PETREL RESOURCES PLC — M&A Activity 2013

Sep 19, 2013

National Storage Mechanism | Additional information

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RNS Number : 4128O

Petrel Resources PLC

19 September 2013

19 September 2013

Petrel Resources plc

("Petrel" or the "Company")

Ministerial Consent to Assignment and Transfer of Operatorship

Petrel Resources plc is pleased to announce that the Minister of State at the Department of Communications, Energy and Natural Resources has granted his consent to the assignment of an 85% interest and transfer of operatorship in Licence Options 11-4 and 11-6 to Petrel's Joint Venture Participant, Woodside.  The way is now clear for the Joint Ventureto apply for a Frontier Exploration Licence, involving a comprehensive work programme.

Welcoming the news, Petrel's Managing Director David Horgan commented:

'Woodside's arrival in the Porcupine Basin of the Irish Atlantic is an important development for Irish exploration.  Woodside, Australia's largest gas exporter, has shown how to find, develop and market hydrocarbons safely, sensitively and profitably.  They bring innovation and an open mind to the challenging but high potential Irish Atlantic Margin'.

ENDS

Enquiries:

Petrel Resources Plc
David Horgan, Managing Director	+353 (0)87 292 3500
John Teeling, Executive Chairman	+353 (0)1 833 2833
Northland Capital Partners Limited
John Howes / Alice Lane Edward Hutton / Gavin Burnell	+44 (0)20 7796 8800
Blythe Weigh Communications	+44 (0) 207 138 3204
Tim Blythe	+44 (0) 781 692 4626
Eleanor Parry	+44 (0) 755 129 3620
Halimah Hussain                                                                                            +44 (0) 772 597 8141	+44 (0) 772 597 8141
Pembroke Communications
David O'Síocháin	+353 (0) 1 649 6486

www.petrelresources.com

This information is provided by RNS

The company news service from the London Stock Exchange

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