PETREL RESOURCES PLC — M&A Activity 2018

Feb 27, 2018

National Storage Mechanism | Additional information

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RNS Number : 9733F

Petrel Resources PLC

27 February 2018

27th 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 km2 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

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