Petrel Resources (#PET) – just £0.25m placing at 1.2p per share with warrants
- 2022-10-24 07:57:08
UK 00:24 Friday, 9 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
It feels like it has been a long time since Petrel Resources (PET) was in play as a fully fledged bull contender.
We ran a piece yesterday by Doc Holiday on Petrel Resources (PET) and on its bosses Dr John Teeling and David Horgan. I approved it for publication because I like Shareprophets writers to say what they think not what I might think. But I think it was harsh on the Irish fellows.
Petrel Resources (PET) has today announced that its directors John Teeling and David Horgan have exercised options which it total represent 4% of the enlarged equity at 2.5p with a token gesture of 100,000 shares each at 5p. Options at 43p have been passed up.
It is probably the case that today's news regarding its holding in the Porcupine Basin will be regarded as a possible buy trigger for bulls of Petrel Resource after a series of false dawn spikes in the share price since the massive rally in the stock last November when there was a move from 6p to over 30p in just a couple of days.
From a fundamental perspective it would appear that bulls of Irish oil exploration group Petrel Resources (PET) has already stamped its authority as far as investors are concerned following the revelation in November that Quadrant 35, part of its 11/4 licensing option in the Irish Atlantic could contain one billion barrels.
