Update On Iraq

RNS Number : 9802V

Petrel Resources PLC

11 November 2010

 



11^th November 2010

Update on Iraq

Petrel Resources (AIM:PET), the AIM listed oil and gas explorer, reports that work continues on the Subba & Luhais EPC project in southern Iraq.

Petrel has received the second tranche of $2.5 million due under the arrangement between the Iraqi authorities and our Joint Venture partners.

The third tranche of $2.5 million is due in 6 months.

The expected formation of an Iraqi Government should clarify oil policy and enable Petrel to move forward with our Iraqi projects.

Enquiries:

Petrel Resources Plc
David Horgan, Managing Director	[phone]
John Teeling	[phone]
Northland Capital Partners Limited
Charles Vaughan Gavin Burnell	[phone]
College Hill
Nick Elwes	[phone]

www.petrelresources.com

 

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