19 Sep 2013 10:42
19 September 2013
Petrel Resources plc
("Petrel" or the "Company")
Ministerial Consent to Assignment and Transfer of Operatorship
Petrel Resources plc is pleased to announce that the Minister of State at the Department of Communications, Energy and Natural Resources has granted his consent to the assignment of an 85% interest and transfer of operatorship in Licence Options 11-4 and 11-6 to Petrel's Joint Venture Participant, Woodside. The way is now clear for the Joint Ventureto apply for a Frontier Exploration Licence, involving a comprehensive work programme.
Welcoming the news, Petrel's Managing Director David Horgan commented:
'Woodside's arrival in the Porcupine Basin of the Irish Atlantic is an important development for Irish exploration. Woodside, Australia's largest gas exporter, has shown how to find, develop and market hydrocarbons safely, sensitively and profitably. They bring innovation and an open mind to the challenging but high potential Irish Atlantic Margin'.
ENDS
Enquiries:
Petrel Resources Plc | |
David Horgan, Managing Director | +353 (0)87 292 3500 |
John Teeling, Executive Chairman | +353 (0)1 833 2833 |
Northland Capital Partners Limited | |
John Howes / Alice Lane Edward Hutton / Gavin Burnell | +44 (0)20 7796 8800 |
Blythe Weigh Communications | +44 (0) 207 138 3204 |
Tim Blythe | +44 (0) 781 692 4626 |
Eleanor Parry | +44 (0) 755 129 3620 |
Halimah Hussain +44 (0) 772 597 8141 | +44 (0) 772 597 8141 |
Pembroke Communications | |
David O'Síocháin | +353 (0) 1 649 6486
|
www.petrelresources.com
Petrel Resources (PET)