27 Feb 2018 07:00
27th February 2018
Petrel Resources plc
("Petrel" or "the Company")
Update on Petrel Joint Venture with Woodside Energy
Petrel Resources plc is pleased to announce its receipt, after Government approval, of a 10% interest in Licensing Option 16/14, which is operated and currently held 100% by Woodside Energy. LO 16/14 is a 1,579 km2 Licensing Option, approximately 150km southwest of Ireland, which covers Blocks 54/11, 54/12, 54/13, 54/16, 54/17 & 54/18.
The partners have applied to convert the Licensing Option to a full Frontier Exploration Licence. An extensive 3D state-of-the-art seismic survey was acquired by contractor PGS during summer 2016. This 'Granuaile' dataset has been processed by Down Under GeoSolutions, and final products are due to be delivered to the Operator shortly.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 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 | |
Edward Hutton / Gerry Beaney (Corporate Finance) | +44 (0) 20 3861 6625 |
John Howes | |
Public Relations | |
Blytheweigh | +44 (0) 207 138 3204 |
Nick Elwes | +44 (0) 783 185 1855 |
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)