By John Lee.
Petrel Resources has said that "Iraq remains the biggest commercial opportunity in petroleum today."
In the company's Interim Statement to the markets on Wednesday, Chairman David Horgan added:
"The geology is unsurpassed. The oil market is sharply recovering. But contracts must be updated for effective exploration and development."
"The focus is once again Iraq."
The company claims to have an interest in Iraq's Block 6 in the Western Desert, subject to ratification.
(Source: Petrel Resources)
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