Fortbridge Media Release

Petrel Resources PLC [AIM:PET] - Iraqi Investment Opportunity

Petrel Resources plc
("Petrel" or "the Company")

Iraqi Investment Opportunity

The Board of Petrel (AIM: PET) is pleased to announce that negotiations on a potential Iraqi investment are at an advanced stage whereby a private company with extensive hydrocarbon interests in Iraq would inject an asset into Petrel in return for a minority shareholding in Petrel as well as board representation.
ENDS

Enquiries:

Petrel Resources Plc
David Horgan, Managing Director +353 (0)87 292 3500
John Teeling, Executive Chairman +353 (0)1 833 2833

Northland Capital Partners Limited
John Howes / Alice Lane
Edward Hutton / Gavin Burnell +44 (0)20 7796 8800

Blythe Weigh Communications +44 (0) 207 138 3204
Tim Blythe +44 (0) 781 692 4626
Eleanor Perry +44 (0) 755 129 3620
Halimah Hussain +44 (0) 20 7138 3203

Pembroke Communications
David O�S�och�in +353 (0) 1 649 6486