30th Jun 2016 09:15
LONDON (Alliance News) - Petrel Resources PLC on Thursday said farm-in partner Woodside Energy has informed it that the 3D seismic programme on the Breanann licence area in the Porcupine Basin, offshore Ireland, has started.
The programme will cover around 2,400 square kilometres, about 40% of which related to the FEL 3/14 licence, in which Petrel holds a 15% carried interest.
The programme is expected to take around five weeks, with the results to be interpreted in the months thereafter.
Shares in Petrel were down 8.1% to 7.12 pence Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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