PETREL RESOURCES PLC — Regulatory Filings 2016

Oct 12, 2016

National Storage Mechanism | Additional information

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RNS Number : 3647M

Petrel Resources PLC

12 October 2016

12th October 2016

Petrel Resources plc

("Petrel" or "the Company")

Proposed Work Programme at Tano Acreage in Ghana

The Directors of Petrel (AIM: PET) are pleased to announce that, further to the announcement of 19th September 2016, a proposed work programme on the Tano acreage offshore Ghana has been submitted to the Ghanaian authorities in Accra.  The new work programme will form part of the ongoing negotiations regarding the terms of acquiring an exploration licence for the Tano Basin acreage.

The Company's directors look forward to providing shareholders with further updates, including specific geological information relating to the new acreage (which is also subject to final agreement) coordinates and the subsequent exploration plans, as negotiations progress.

At present, no assurances can be given that the ongoing negotiations will lead to a successful outcome for the Company.

Petrel's Ghanaian affiliated company, Pan Andean Resources (Ghana) Limited, is a private Ghanaian company held 30% by Petrel Resources, 60% by Clontarf and 10% by local Ghana interests.

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

Ends

Enquiries:

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

Petrel Resources Plc

John Teeling, Chairman                                                               +353 (0) 1 833 2833

David Horgan, Director

Dipti Mehta

Nominated Adviser and Broker

Northland Capital Partners Limited

Edward Hutton / Gerry Beaney                                                    +44 (0)203 861 6625

John Howes (Broking)

Public Relations

Blytheweigh                                                                                +44 (0)20 7138 3204

Tim Blythe                                                                                    +44 (0) 7816 924 626

Camilla Horsfall                                                                            +44 (0) 7871 841 793

Nick Elwes                                                                                    +44 (0) 7831 851 855

Rachael Brooks                                                                            

Jonathan Garfield

PSG Plus

Colm Heatley                                                                                +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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