Petrel Resources PLC

Tano 2A Block Update

RNS Number : 8799A
Petrel Resources PLC
17 September 2018
 

                                                                                      

 

                                                                                        

                                                                                         

 

 

                                                                                            

 

 

17th 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  As such, all legal proceedings have been withdrawn and the Company looks forward to making further announcements regarding the Petroleum Agreement in due course.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  All legal proceedings have been withdrawn so, after normal consultations, the next stage is for the Petroleum Agreement to be sent to Cabinet for review.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

+353 (0) 1 833 2833

David Horgan, Director




Nominated Adviser and Broker


Northland Capital Partners Limited


David Hignell / Edward Hutton (Corporate Finance)

+44 (0) 20 3861 6625

Rob Rees / Isabella Pierre

 




Public Relations


Blytheweigh

+44 (0) 207 138 3206

Simon Woods

+44 (0) 746 643 9633

Camilla Horsfall

+44 (0) 787 184 1793



 

Teneo PSG


Luke Hogg

+353 (0) 1 661 4055

Alan Tyrrell

+353 (0) 1 661 4055

 


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