Ghanaian Negotiations

7th September 2016

Petrel Resources plc

("Petrel" or the "Company")

Ghanaian Negotiations

The directors of Petrel (AIM: PET) wish to advise shareholders that, further to our announcement of 22nd June 2016, Petrel and its partners have now met for discussions with Ghanaian officials. Negotiations are now underway in relation to possible award of acreage in respect of our prior application on deep-water Tano Basin acreage as well as replacement acreage for our signed Petroleum Agreement on Tano 2A Block.

No assurances can be given that such negotiations will lead to a successful outcome for the Company.

Our Ghanaian affiliated company, Pan Andean Resources (Ghana) Limited, is a private Ghanaian company held 30% Petrel Resources, 60% by Clontarf, and 10% local Ghana interests.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Enquiries:

For further information please visit http://www.petrelresources.com/ or contact:

Petrel Resources Plc

John Teeling, Chairman +353 (0) 1 833 2833

David Horgan, Director

Dipti Mehta

Nominated Adviser and Broker

Northland Capital Partners Limited

Edward Hutton / Gerry Beaney +44 (0)203 861 6625

John Howes (Broking)

Public Relations

Blytheweigh +44 (0)20 7138 3204

Tim Blythe +44 (0) 7816 924 626

Camilla Horsfall +44 (0) 7871 841 793

Megan Ray +44 (0) 7515 857 619

Nick Elwes +44 (0) 7831 851 855

Rachael Brooks

Jonathan Garfield

PSG Plus

Colm Heatley +353 (0) 1 661 4055

Alan Tyrrell +353 (0) 1 661 4055

www.petrelresources.com