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Petrel Resources provides update on Ghana legal proceedings


Published Oct 14, 2014
Petrel Resources plc

The board of Petrel reports that an agreement has been reached with the Ghanaian authorities on the specific revised co-ordinates of the signed Petroleum Agreement on a licence Block in the Tano area of Ghana.

This solution is satisfactory for the Company and brings the Company s interests in acreage closer to existing discoveries. As announced in July 2014, it was agreed that additional, contiguous acreage will be added to preserve the size of the Block, and a revised Activity Map has been circulated.

The agreement is between Pan Andean Resources Ltd (60% Clontarf Energy plc, 30% Petrel Resources plc, 10% local interests) the Ghana National Petroleum Corporation and the Government of Ghana.

Tags: Petrel Resources plc




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