Petrel Resources plc
("Petrel" or the "Company")
Ghanaian Negotiations
The directors of Petrel (AIM: PET) wish to advise shareholders that, further to our announcement of 22nd June 2016, Petrel and its partners have now met for discussions with Ghanaian officials. Negotiations are now underway in relation to possible award of acreage in respect of our prior application on deep-water Tano Basin acreage as well as replacement acreage for our signed Petroleum Agreement on Tano 2A Block.
No assurances can be given that such negotiations will lead to a successful outcome for the Company.
Our Ghanaian affiliated company, Pan Andean Resources (Ghana) Limited, is a private Ghanaian company held 30% Petrel Resources, 60% by Clontarf, and 10% local Ghana interests.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
Enquiries:
For further information please visit http://www.petrelresources.com/ or contact:
Petrel Resources Plc
John Teeling, Chairman +353 (0) 1 833 2833
David Horgan, Director
Dipti Mehta
Nominated Adviser and Broker
Northland Capital Partners Limited
Edward Hutton / Gerry Beaney +44 (0)203 861 6625
John Howes (Broking)
Public Relations
Blytheweigh +44 (0)20 7138 3204
Tim Blythe +44 (0) 7816 924 626
Camilla Horsfall +44 (0) 7871 841 793
Megan Ray +44 (0) 7515 857 619
Nick Elwes +44 (0) 7831 851 855
Rachael Brooks
Jonathan Garfield
PSG Plus
Colm Heatley +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055