Holding(s) in Company

Petrel Resources PLC
22 June 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: (X)

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) : (    )


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

Gartmore Investment Limited

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

Please see attached schedule

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

18 June 2007

6. Date on which issuer notified:

19 June 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                      4,641,760                          4,641,760


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

                             3,443,173                             3,443,173                        4.983%

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

3,443,173                      4.983%



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:

All shares are held indirectly



All figures are based on the Companies issued share capital of 69,101,752 as
provided by Exshare



E-mail contact [e-mail]



14. Contact name:

Alison Averono



15. Contact telephone number:

0207 782 2324





Schedule:


Number of           Percentage of         UK Registered                Beneficial Owner
Shares Held         Issued Capital        Owner

1,780,000           2.576%                HSBC Global Custody Nominee  Cartmore Fund Managers Ltd A/C
                                          UK Ltd                       Gartmore UK & Irish smaller
                                                                       companies
1,780,000           2.576%

77,354              0.112%                Goldman Sachs Prime          The Gartmore Limited
                                          Brokerage
                                                                       Issue Irish Growth Fund Ltd (Prime
                                                                       Brokerage)

1,585,819           2.295%                Nortrust Nominees Ltd        Gartmore Irish Growth Fund Plc

1,663,173           2.407%

3,443,173           4.983%






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