Ministerial Consent of Operatorship

RNS Number : 4128O

Petrel Resources PLC

19 September 2013

 



19 September 2013

Petrel Resources plc

("Petrel" or the "Company")

Ministerial Consent to Assignment and Transfer of Operatorship

Petrel Resources plc is pleased to announce that the Minister of State at the Department of Communications, Energy and Natural Resources has granted his consent to the assignment of an 85% interest and transfer of operatorship in Licence Options 11-4 and 11-6 to Petrel's Joint Venture Participant, Woodside.  The way is now clear for the Joint Ventureto apply for a Frontier Exploration Licence, involving a comprehensive work programme.

Welcoming the news, Petrel's Managing Director David Horgan commented:

'Woodside's arrival in the Porcupine Basin of the Irish Atlantic is an important development for Irish exploration.  Woodside, Australia's largest gas exporter, has shown how to find, develop and market hydrocarbons safely, sensitively and profitably.  They bring innovation and an open mind to the challenging but high potential Irish Atlantic Margin'.

ENDS

Enquiries:

Petrel Resources Plc
David Horgan, Managing Director	[phone]
John Teeling, Executive Chairman	[phone]
Northland Capital Partners Limited
John Howes / Alice Lane Edward Hutton / Gavin Burnell	[phone]
Blythe Weigh Communications	[phone]
Tim Blythe	[phone]
Eleanor Parry	[phone]
Halimah Hussain                                                                                            [phone]	[phone]
Pembroke Communications
David O'Síocháin	[phone]

www.petrelresources.com

 

END

 

 

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