Tano 2A Block Update

RNS Number : 8799A

Petrel Resources PLC

17 September 2018

 

17^th September 2018

Petrel Resources plc

("Petrel" or "the Company")

Update regarding contract for the Tano 2A Block

Petrel Resources, the oil and gas exploration company with an interest in Ghana, is pleased to announce that the Company's Directors believe they have resolved the outstanding issues with the Ghana National Petroleum Corporation (GNPC) regarding a contract for the development of the Tano 2A Block (the 'Petroleum Agreement').  As such, all legal proceedings have been withdrawn and the Company looks forward to making further announcements regarding the Petroleum Agreement in due course.

David Horgan, Director, commented:

"We are delighted to report that all outstanding issues have now been resolved with GNPC regarding our Tano 2A Block.  All legal proceedings have been withdrawn so, after normal consultations, the next stage is for the Petroleum Agreement to be sent to Cabinet for review.  I look forward to providing further announcements as appropriate."

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

ENDS

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

Enquiries:

Petrel Resources
John Teeling, Chairman	[phone]
David Horgan, Director
Nominated Adviser and Broker
Northland Capital Partners Limited
David Hignell / Edward Hutton (Corporate Finance)	[phone]
Rob Rees / Isabella Pierre
Public Relations
Blytheweigh	[phone]
Simon Woods	[phone]
Camilla Horsfall	[phone]
Teneo PSG
Luke Hogg	[phone]
Alan Tyrrell	[phone]

 

END

 

 

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