30 Dec 2008 12:17
Petrel Resources Plc
Statement re Share Price Movement
The Board of Petrel Resources PLC ("the Company") notes the recent increase in the Company's share price, which it attributes to recent press speculation concerning the process for companies to tender in connection with the development of oil and gas fields inĀ Iraq.
The focus of the Company's operations is, and has been since its establishment in the 1980s, inĀ Iraq. However, the Company has no specific comment to make at this time about this press comment or its prospects for 2009.
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Enquiries:
Petrel Resources
Jim FinnĀ +353 862 58 1178Ā
Blue Oar SecuritiesĀ
Nick Lovering +44 (0) 20 7448Ā 4478Ā
www.petrelresources.com