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Petrel Resources ( (GB:PET) ) has provided an announcement.
Petrel Resources Plc has successfully raised £250,000 through a share placing, which will provide additional working capital as the company explores new projects in Iraq and other regions. The improved security situation in Iraq and better global oil prices present opportunities for Petrel to develop existing discoveries and potentially engage in pre-qualification discussions with Iraq’s Ministry of Oil, enhancing its strategic positioning in the oil and gas sector.
More about Petrel Resources
Petrel Resources Plc operates in the oil and gas industry, focusing on exploration and development projects primarily in Iraq. The company is engaged in assessing new projects and has a history of technical cooperation in the region, aiming to capitalize on improving security conditions and favorable contract terms.
YTD Price Performance: 46.15%
Average Trading Volume: 219,666
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £3.49M
See more data about PET stock on TipRanks’ Stock Analysis page.
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