Re Contract

4 May 2005 14:40

Petrel Resources PLC04 May 2005 Petrel Resources plc Petrel has noted the recent volatility in the share price and certain pressspeculation. Petrel wishes to report that it has not yet obtained clarificationregarding potential contract awards for oil field developments in Khurmala andHemrin referred to in an announcement on 12 December 2004, nor has it receivedany formal communication from the Iraqi Ministry of Oil about the status of thepending Subba & Luhais oil field development. When there is such notificationthe Company will immediately inform shareholders. This information is provided by RNS The company news service from the London Stock Exchange