Director Shareholding

Petrel Resources PLC
4 March 2002

Petrel Resources Plc announces that, as part of the Company's share option
scheme, the following share options were granted to Directors of the Company on
1 March 2002:


Director                     No. of Share                               Exercise
                             Options Granted                            Price

John Teeling                     500,000                           5p per share
David Horgan                     200,000                           5p per share


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