John Teeling, Chairman, commented:25 Nov 2019 12:34
"I am absolutely delighted that we have the regulatory clearance to proceed with the increase in shareholding of the group headed up by Messrs Tamraz and Fayad to 51% of the issued share capital following the initial subscription by this group in July. This group brings a wealth of oil, gas and financial expertise to Petrel. And we look forward to a potential flow of deals. Mr Fayad and Mr Tamraz will be in attendance at the meeting in Dublin on November 21st. The future looks exciting".