Data room opened for Petrel Resources' Irish licences

14th May 2013 08:58

AIM-listed diversified oil and gas exploration and production company Petrel Resources has reported that a data room has been opened in London for its two licensing options- 11/4 and 11/6 - located in the Porcupine Basin in the Irish Atlantic Margin. The two Licensing Options cover 1,400 square kilometres, with licence 11/4 in the north of the basin, and 11/6 in the east of the basin. The company, which has additional interests in Ghana and Iraq, reported that the directors had commenced negotiations with a number of oil and gas companies interested in participating in the two licences.The company's share price was up 2.78% to 18.50p at 08:53 on Tuesday morning.MF