Petrel Resources - PET Stream Log

"Petrel Resources and Clontarf Energy have advised that they have been informed by the Ghanaian Ministry of Petroleum that it is available for negotiations on the Companies proposals for amended coordinates of the Tano 2A Basin Block. The Tano 2A Block was owned by Pan Andean Resources, 30% held by Petrel, 60% by Clontarf and 10% by local Ghanaians. The Ministry advised that the Lukoil B Block is available for negotiations. Positive developments for both Petrel Resources and Clontarf Energy with the potential for negotiations on the Lukoil B Block. The Lukoil B Block is located offshore and in deeper water than the Companies previous Tano 2A Block, but is considered highly prospective." Northland's view out this morning on research tree

Another note out this morning from Northland Capital, "Petrel Resources has been awarded two new Licencing Options in the Porcupine Basin, offshore Ireland.... The options are valid for two years and can be converted into Frontier Exploration Licences... The award of these two licence options is a positive development for Petrel Resources. The Company had focused on seeking prospective areas in reasonable water depths close to existing discoveries making these licence options interesting targets for the Company."

Read Northland Capital Partners's note on Petrel Resources out this morning, by visiting Research Tree: "Positive development for Petrel Resources with its interest in two significant Porcupine Basin plays being moved forward by partner Woodside Petroleum. During the 2015 Bid Round for Irish offshore licences there were 17 companies making 43 applications highlighting the recent uptick in interest in the area..."

Clontarf-Petrel Tano 2A licence in Ghana Ratified and production licence Granted [link] .

Clontarf (CLON) Tano 2A licence in Ghana enlarged: Two Irish exploration firms - Clontarf Energy and Petrel [link] .

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