Petrel Resources FY Pretax Loss EUR6.53 Vs Loss EUR0.76M

LONDON (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 Joint Venture has re-started the Subba and Luhais oilfield development services contract under satisfactory terms: -Petrel received $2 million in 2010 -Petrel to receive a further $5 million in 2 tranches over 12 months -Petrel maintains a profit share but has no further liability or exposure to the services contract -Shares closed Thursday at 25 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; tommy.stubbington@dowjones.com Order free Annual Report for Petrel Resources plc Visit http://djnweurope.ar.wilink.com/?ticker=IE0001340177 or call +44 (0)208 391 6028 (END) Dow Jones Newswires June 25, 2010 02:52 ET (06:52 GMT)