Petrel Resources Regulatory News (PET)

6 Oct 2005 16:11

Petrel Resources PLC06 October 2005 Petrel Resources PLC announces that it has completed a placing of 4,026,707 newordinary shares at 65p per share to raise £2.61 million, net of expenses. Thefunds will be used to enable the Company to commence work on the Subba andLuhais field. An additional 55,182 new ordinary share will be issued to MrStefano Borghi, a director of the Company, as commission for part of the placingand application has been made for 4,081,889 shares to be admitted to AIM. It isexpected that admission will take place and dealings will commence on 13 October2005. Following this issue of ordinary shares, Mr Borghi's holding of ordinary shareswill be 55,182 share, representing approximately 0.08% of the enlarged issuedshare capital. This information is provided by RNS The company news service from the London Stock Exchange