Ghanaian Negotiations

RNS Number : 2347J

Petrel Resources PLC

07 September 2016

 

7^th September 2016

Petrel Resources plc

("Petrel" or the "Company")

Ghanaian Negotiations

The directors of Petrel (AIM: PET) wish to advise shareholders that, further to our announcement of 22^nd June 2016, Petrel and its partners have now met for discussions with Ghanaian officials.  Negotiations are now underway in relation to possible award of acreage in respect of our prior application on deep-water Tano Basin acreage as well as replacement acreage for our signed Petroleum Agreement on Tano 2A Block.

No assurances can be given that such negotiations will lead to a successful outcome for the Company.

Our Ghanaian affiliated company, Pan Andean Resources (Ghana) Limited, is a private Ghanaian company held 30% Petrel Resources, 60% by Clontarf, and 10% local Ghana interests.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Enquiries:

For further information please visit http://www.petrelresources.com/  or contact:

Petrel Resources Plc

John Teeling, Chairman                                                               [phone]

David Horgan, Director

Dipti Mehta

Nominated Adviser and Broker

Northland Capital Partners Limited

Edward Hutton / Gerry Beaney                                                    [phone]

John Howes (Broking)

Public Relations

Blytheweigh                                                                                [phone]

Tim Blythe                                                                                    [phone]

Camilla Horsfall                                                                            [phone]

Megan Ray                                                                                   [phone]

Nick Elwes                                                                                    [phone]

Rachael Brooks                                                                            

Jonathan Garfield

PSG Plus

Colm Heatley                                                                                [phone]

Alan Tyrrell                                                                                   [phone]

www.petrelresources.com

 

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