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By John Lee. Irish-based Petrel Resources has claimed that an updated Merjan oil field development proposal has been submitted to the Ministry of Oil with a view to finalising a licence agreement. The company claims to have an interest in Iraq's Block 6 in the Western Desert, subject to ratification. Full text of the company
By John Lee. Shares in Irish-based Petrel Resources fell more than 30 percent this morning as the company reported, "a material uncertainty that may cast significant doubt on the Group and Company's ability to continue as a going concern," in its audited results for the year ended 31st December 2022. The company claims to have