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IN BRIEF: Petrel Resources focuses on re-launches Iraq operations

Tue, 28th Jun 2022 12:58

Petrel Resources PLC - hydrocarbon explorer with interests in Iraq and Ghana - Narrows pretax loss in 2021 to EUR322,077 from EUR450,685 in 2020. Records no revenue in either year. Says main focus in 2021 was on re-energising its Iraq operation, requiring the resolution of a disrupted shareholding. With the issue resolved at the end of this past May, Petrel says it has resumed growth. Iraq operations are well positioned, it says, and it is ready to deliver a "demanding" work programme in Ghana.

Current stock price: 2.32 pence, down 3.3% in London on Tuesday

12-month change: down 3.3%

By Heather Rydings; heatherrydings@alliancenews.com

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