Holding(s) in Company

Petrel Resources PLC
26 March 2007



TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES



1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

Petrel Resources PLC



2. Reason for the notification (please place an X inside the appropriate bracket
/s):



An acquisition or disposal of voting rights: (    )



An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: (    )



An event changing the breakdown of voting rights: (    )



Other (please specify) : (X)

Notification for the FSA 20th March 2007 Deadline



3. Full name of person(s) subject to the notification obligation:

Gartmore Investment Limited



4. Full name of shareholder(s) (if different from 3.) :

Gartmore Fund Managers Ltd A/C Gartmore UK & Irish smaller companies 4.146%



5. Date of the transaction (and date on which the threshold is crossed or
reached if different):





6. Date on which issuer notified:

19 March 2007



7. Threshold(s) that is/are crossed or reached:

Below 5%



8. Notified details:





A: Voting rights attached to shares


Class/type of shares if possible              Situation previous to the Triggering transaction
using the ISIN CODE
                                  Number of shares                   Number of voting Rights


IE0001340177                                                         6%

Resulting situation after the triggering transaction


Class/type of shares if      Number of shares         Number of voting rights           % of voting rights
possible using the ISIN CODE
                             Direct                   Direct       Indirect             Direct      Indirect


                             4,641,760                             4,641,760                        6.717%



B: Financial Instruments

Resulting situation after the triggering transaction


Type of         Expiration Date      Exercise/Conversion       Number of voting rights     % of voting rights
financial                            Period/ Date              that may be acquired if the
instrument                                                     instrument is exercised/
                                                               converted.





Total (A+B)
Number of voting rights        % of voting rights


4,641,760                      6.717%



9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable :





Proxy Voting:



10. Name of the proxy holder:





11. Number of voting rights proxy holder will cease to hold:





12. Date on which proxy holder will cease to hold voting rights:





13. Additional information:





14. Contact name:

Alison Averono



15. Contact telephone number:

0207 782 2324


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