By John Lee. In its preliminary results for 2018, Petrel Resources gave the following update on its activities in Iraq: We had high hopes of commercial success in Iraq. It has the best oil geology on the planet with drilling success over 90% and a $2 to 4 a barrel production cost. But the political […]
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Petrel Resources Shares Slump following Iraq Settlement
By John Lee. Shares in Irish-based Petrel Resources were trading 20 percent down on Friday after the company said it had reached a settlement in respect of the disposal of 2.2 million Petrel shares by Amira Petroleum‘s advisers notwithstanding a lock-in agreement entered into on 19 August 2013. According to the company: On 14 August […]
Petrel Resources Updates on Prospects
By John Lee. As part of its Interim Statement, Petrel Resources has given the following update on its Iraq operations: “The political uncertainty and civil strife in the Middle East makes it difficult to be optimistic about our activities in Iraq. But progress has been made. A new government has been formed. The Minister of […]