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11 Nov 2010 07:00
11th November 2010
Update on Iraq
Petrel Resources (AIM:PET), the AIM listed oil and gas explorer, reports that work continues on the Subba & Luhais EPC project in southern Iraq.
Petrel has received the second tranche of $2.5 million due under the arrangement between the Iraqi authorities and our Joint Venture partners.
The third tranche of $2.5 million is due in 6 months.
The expected formation of an Iraqi Government should clarify oil policy and enable Petrel to move forward with our Iraqi projects.
Enquiries:
Petrel Resources Plc | |
David Horgan, Managing Director | +353 (0)87 292 3500 |
John Teeling | +353 (0)1 833 2833 |
Northland Capital Partners Limited | |
Charles Vaughan Gavin Burnell
| +44 (0)20 7492 4750 |
College Hill | |
Nick Elwes | +44 (0)20 7457 2020 |
www.petrelresources.com
Petrel Resources (PET)
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