Petrel Resources PLC Ghanaian Negotiations (9813B)
June 22 2016 - 9:00AM
UK Regulatory
TIDMPET
RNS Number : 9813B
Petrel Resources PLC
22 June 2016
22(nd) June 2016
Petrel Resources plc
("Petrel" or "the Company")
Ghanaian Negotiations
The directors of Petrel (AIM: PET) wish to advise shareholders
that Petrel and its partners have been informed by the Ghanaian
Ministry of Petroleum (the "Ministry") that the Ministry is
available for negotiations on our proposals for amended coordinates
of the Tano Basin block which Petrel first became interested in in
2010.
The Ministry has reviewed our entire proposal and accordingly
advised us that the Block named "Lukoil B" is available for
negotiations. We will confirm our interest and follow up on this
prospective acreage. Further announcements will be made as soon as
practicable.
This new acreage is an offshore block in deeper water than the
Tano 2A block which has been the subject of ongoing discussions for
many years. Our Ghanaian affiliated company, Pan Andean Resources
(Ghana) Limited, is a private Ghanaian company held 30% by Petrel
Resources, 60% by Clontarf Energy, and 10% local Ghana
interests.
Ends
Enquiries:
For further information please visit
http://www.petrelresources.com or contact:
Petrel Resources Plc
David Horgan, Director +353 (0) 1 833 2833
Nominated Adviser and Broker
Northland Capital Partners Limited
Edward Hutton / Gerry Beaney +44 (0)203 861 6625
John Howes (Broking)
Public Relations
Blytheweigh +44 (0)20 7138 3204
Tim Blythe +44 (0) 7816 924 626
Camilla Horsfall +44 (0) 7871 841 793
Megan Ray +44 (0) 7515 857 619
Anna Worboys
Rachael Brooks
PSG Plus
Colm Heatley +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
This information is provided by RNS
The company news service from the London Stock Exchange
END
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