Holding(s) in Company

Petrel Resources PLC
18 June 2004



Petrel Resources announces that it was informed on 17 June 2004 by Gartmore
Investment Management plc that the interest in the Company's ordinary shares
held by Gartmore and its funds has reduced by 262,381 shares to 3,269,281
shares, representing approximately 5.61% of the issued share capital of the
Company.


                      This information is provided by RNS
            The company news service from the London Stock Exchange