Stmnt re Share Price Movement

RNS Number : 8949K

Petrel Resources PLC

30 December 2008

 

Petrel Resources Plc

Statement re Share Price Movement

The Board of Petrel Resources PLC ('the Company') notes the recent increase in the Company's share price, which it attributes to recent press speculation concerning the process for companies to tender in connection with the development of oil and gas fields in Iraq.

The focus of the Company's operations is, and has been since its establishment in the 1980s, in Iraq. However, the Company has no specific comment to make at this time about this press comment or its prospects for 2009.

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Enquiries:

Petrel Resources  

Jim Finn [phone] 

Blue Oar Securities 

Nick Lovering [phone] 

www.petrelresources.com

 

END

 

 

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