Pet 100% Ireland 27 Dec 2012 13:13
Petrel Resources plc
("Petrel" or the "Company")
Technical Update on Irish Atlantic Margin Prospects
& Participation in the Atlantic Ireland 2012 Conference, Dublin
Highlights:
· Detailed modeling has outlined a one billion barrel potential on Quad 35; part of our 11/4 Licencing Option.
· Targets are accessible with one well (i.e. vertically stacked targets) having been mapped at several levels.
· Petrel has mapped closure at its Quad 45 prospects against a major boundary fault and outlined a number of vertically stacked targets.
Petrel Resources is a diversified oil and gas exploration and production company, with interests in Ghana, Ireland and Iraq. The company has a signed petroleum agreement in Ghana, holds two licences in offshore Ireland and recently completed an exploration and production joint venture contract in Iraq.