By John Lee. Irish-based Petrel Resources has taken a €4.1 million impairment of its investment in Iraq: "In August 2013, Petrel did a deal with Amira in Iraq whereby, for US$500,000 in cash plus 18,947,368 initial consideration shares (which were to be locked-in until spudding of the first oil well by our partners), Petrel acquired […]
Tag Archives | Amira
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 "Incurs no Costs" in Iraq
By John Lee. In its Interim Statement for period ended 30 June 2015, Irish-based Petrel Resources issued the following update on its operations in Iraq: "Our third theatre of activities is Iraq, where we have had a presence for 18 years. The original Petrel interest was in Block 6 in the Western Desert between Baghdad […]
Tags: Amira, Amira Hydrocarbons Wasit, Block 6, Canada, featured, Ireland, Oryx Petroleum, Petrel Resources, Wasit, Wassit
Petrel Jumps on Iraq Acquisition
By John Lee. Shares in Irish-based explorer Petrel Resources were up as much as 20 percent in early trading on Wednesday following the announcement that the company has agreed to acquire a 20 percent shareholding in Amira Hydrocarbons Wasit B.V. ("Amira"), which is the holder of a 25 per cent carried interest in certain oil […]