Source - LSE Regulatory
RNS Number : 9813B
Petrel Resources PLC
22 June 2016
 

 

                                                                                        

                                                                                         

  

 

22nd June 2016

 

Petrel Resources plc

("Petrel" or "the Company")

 

Ghanaian Negotiations

 

The directors of Petrel (AIM: PET) wish to advise shareholders that Petrel and its partners have been informed by the Ghanaian Ministry of Petroleum (the "Ministry") that the Ministry is available for negotiations on our proposals for amended coordinates of the Tano Basin block which Petrel first became interested in in 2010. 

 

The Ministry has reviewed our entire proposal and accordingly advised us that the Block named "Lukoil B" is available for negotiations.  We will confirm our interest and follow up on this prospective acreage. Further announcements will be made as soon as practicable.

 

This new acreage is an offshore block in deeper water than the Tano 2A block which has been the subject of ongoing discussions for many years.  Our Ghanaian affiliated company, Pan Andean Resources (Ghana) Limited, is a private Ghanaian company held 30% by Petrel Resources, 60% by Clontarf Energy, and 10% local Ghana interests.

Ends

 

Enquiries:

 

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

 

Petrel Resources Plc

David Horgan, Director                                                                                         +353 (0) 1 833 2833

 

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

Megan Ray                                                                                                                 +44 (0) 7515 857 619

Anna Worboys

Rachael Brooks                                                                                                       

 

PSG Plus

Colm Heatley                                                                                                            +353 (0) 1 661 4055

Alan Tyrrell                                                                                                                +353 (0) 1 661 4055


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