Source - RNS
RNS Number : 1303K
Petrel Resources PLC
19 September 2016










19th September 2016


Petrel Resources plc

("Petrel" or the "Company")


Ghanaian Tano Basin acreage negotiations


The directors of Petrel (AIM: PET) are pleased to advise shareholders that, further to our announcement of 7th September 2016, Petrel and its partners have been offered revised Tano Basin acreage coordinates by Ghanaian officials, which we have accepted in principle. 


Negotiations to formalise a revised Petroleum Agreement between the Company and Ghanaian officials will continue as agreement has yet to be reached on certain matters.


The Company's directors look forward to providing shareholders with further updates, including specific geological information relating to the new acreage coordinates, as negotiations progress.


At present no assurances can be given that these negotiations will lead to a successful outcome for the Company or that a formal agreement will be reached.


Our 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.






For further information please visit  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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