30 Dec 2008 12:17
RNS Number : 8949K
Petrel Resources PLC
30 December 2008
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 in Iraq.
The focus of the Company's operations is, and has been since its establishment in the 1980s, in 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 Finn +353 862 58 1178
Blue Oar Securities
Nick Lovering +44 (0) 20 7448 4478
www.petrelresources.com
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Petrel Resources (PET)