Petrel Resources gains 20 per cent stake in Amira Hydrocarbons

oilwell petrel-Dani Simmonds sxc optOryx Petroleum is the operator and funder of the work programme. (Image source: Dani Simmonds/sxc.hu)Petrel Resources has announced that it has acquired 20 per cent stake in Iraq’s Amira Hydrocarbons

Amira Hydrocarbons is currently the holder of a 25 per cent carried interest in oil and gas exploration and production licences in the country’s Wasit Province.

Oryx Petroleum is the operator and funder of the work programme, the company said.

John Teeling, chairman of Petrel Resources, said, “The last 10 months have been a period of rapid progress and share price appreciation for Petrel Resources. We now have momentum, good partners in Ireland and Iraq and have plans to drive forward.”

The shareholding in Amira Hydrocarbon’s assets gives the Ireland-based firm the potential to drill one or two additional wells, Petrel Resources said in a statement.

 

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Petrel Resources to own 20 per cent stake in Iraq’s Amira Hydrocarbons

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