17 Sep 2018 07:00
17th September 2018
Petrel Resources plc
("Petrel" or "the Company")
Update regarding contract for the Tano 2A Block
Petrel Resources, the oil and gas exploration company with an interest in Ghana, is pleased to announce that the Company's Directors believe they have resolved the outstanding issues with the Ghana National Petroleum Corporation (GNPC) regarding a contract for the development of the Tano 2A Block (the 'Petroleum Agreement'). As such, all legal proceedings have been withdrawn and the Company looks forward to making further announcements regarding the Petroleum Agreement in due course.
David Horgan, Director, commented:
"We are delighted to report that all outstanding issues have now been resolved with GNPC regarding our Tano 2A Block. All legal proceedings have been withdrawn so, after normal consultations, the next stage is for the Petroleum Agreement to be sent to Cabinet for review. I look forward to providing further announcements as appropriate."
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
ENDS
For further information please visit http://www.petrelresources.com/ or contact:
Enquiries:
Petrel Resources | |
John Teeling, Chairman | +353 (0) 1 833 2833 |
David Horgan, Director | |
Nominated Adviser and Broker | |
Northland Capital Partners Limited | |
David Hignell / Edward Hutton (Corporate Finance) | +44 (0) 20 3861 6625 |
Rob Rees / Isabella Pierre
| |
Public Relations | |
Blytheweigh | +44 (0) 207 138 3206 |
Simon Woods | +44 (0) 746 643 9633 |
Camilla Horsfall | +44 (0) 787 184 1793 |
Teneo PSG | |
Luke Hogg | +353 (0) 1 661 4055 |
Alan Tyrrell | +353 (0) 1 661 4055 |
Petrel Resources (PET)