25th May 2016 09:58
LONDON (Alliance News) - Petrel Resources PLC on Wednesday said the 3D seismic surveys over its assets in the Irish Atlantic are set to start very soon.
Petrel said environmental approvals for the work were secured in early May and the survey vessels are now mobilising to the Granuaile survey area in the South Porcupine Basin.
Petrel said it expects the Breanann seismic survey to take place in around 40 days, weather permitting.
The surveys will cover exploration licence 3/14, operated by Australia's Woodside Petroleum Ltd. Petrel has a 15% carried interest in the licence.
Shares in Petrel were up 5.9% to 4.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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