Re Agreement

13 Sep 2005 15:59

Petrel Resources PLC13 September 2005 EXPLORATION BLOCK IN JORDAN Petrel, the aim listed Middle East oil explorer, (PET) is pleased to announcethat it has reached agreement with the Jordanian authorities (Natural ResourcesAuthority) on a Production Sharing Agreement on the East Safawi Block in easternJordan. East Safawi borders Saudia Arabia, Syria and the gas producing JordanianRisha field, near Iraq. The agreed work programme includes seismic and wells.There are both oil and gas plays. The agreement is subject to Parliamentaryapproval and Royal assent. David Horgan, Managing Director, commented "We are delighted to have reached agreement with the Jordanian authorities toexplore for oil and gas in East Safawi. There is growing realisation that Jordanoffers good prospects for significant hydrocarbon discoveries. Coming on the heels of the award of the Iraqi contract on Subba and Luhais, theEast Safawi agreement is a further tribute to the skill and tenacity of ourexploration team in the Middle East." Contact: David Horgan + 353 87 292 3500Managing Director Bell Pottinger Corporate & FinancialNick Lambert + 44 (0)7811 358764 Rowan DartingtonBarrie Newton + 44 (0)117 933 0011 This information is provided by RNS The company news service from the London Stock Exchange