Director Shareholding

Petrel Resources PLC
05 November 2002

Petrel Resources plc announces that they were informed on 4 November 2002 that
the following directors exercised options on 4 November at 1.25 cents per share:




Director                                       Shares exercised           Total current      Total current
                                                                           shareholding         percentage

John Teeling                                          1,000,000               3,500,000                7.3
David Horgan                                          1,000,000               2,600,000                5.4
James Finn                                              300,000                 900,000                1.9




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