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Irish oil exploration group Petrel was soaring after it announced that it has been awarded two licensing options to explore in the prospective Porcupine Basin off the coast of the emerald isle. "We have already started initial work and look forward to executing this exciting project," managing dire
Read moreLONDON (Dow Jones)--Petrel Resources PLC (PET.LN), an Irish and London listed oil exploration company, said Monday it has overcome serious difficulties in recent years and faces the future with renewed confidence, adding that it intends to remain in Iraq. MAIN FACTS: -Petrel has $7 million i
Read moreJohn Teeling, chairman of Iraq-focused oil exploration company Petrel Resources, claimed the company is better placed to progress than it has been for some years, despite reporting sharply increased losses last year. The company made a loss before tax of €6.53m on zero revenues in 2009 after losing
Read moreLONDON (Dow Jones)--Petrel Resources PLC (PET.LN), an oil exploration company, Friday reported a full year pretax loss of EUR6.53 million, compared with a loss of EUR761,637 a year earlier MAIN FACTS: -Loss per share for the year ended Dec. 31 8.73 cents (2008: 1.05 cents) -Petrel-Makman
Read moreStocks built on Friday's gains as investors piled into miners and high street banks, although the leading index finished toward the bottom of the session's range. An increase in metal prices proved attractive, with Chile-focused copper giant Antofagasta the pick of the bunch. Kazakhmys was also wa
Read moreThe Footsie moved sideways over the lunch time session, with the blue chip index remaining buoyed by the strength of miners and banks. Kazakhmys is wanted after it sold a 49% stake in its copper project Aktogay to Chinese company Jinchuan Group for $120m. Kazakhmys said the estimated development c
Read morePetrel Resources rocketed higher Monday after announcing work is to restart in Iraq after settling all outstanding issues on the Subba and Luhais oilfield development in the south of the country. The AIM-listed oil and gas explorer no longer has any liability or exposure to any possible project lo
Read moreMining stocks are going well as they recover from some hefty losses yesterday. Platinum miner Lonmin, one of the FTSE 100's worst performers yesterday, is near the top today. Sticking with precious commodities, Petra Diamonds moves higher after saying output increased five fold to over 1m carats t
Read moreThe share price of Petrel Resources took a dive Wednesday morning after the Iraq-focused oil company said it has been waiting 16 months to be paid the $54m it is owed for work done on the Subba and Luhais contract. Despite offering to take payment in oil rather than cash, negotiations for settlemen
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