Thursday October 22, 2020

PROFILE: Petrel Resources

Petrel Resources' shares jumped after it announced a potential billion barrel oil find off Ireland. We profile an Irish company that has braved Atlantic storms and Iraqi war.

12th November, 2012
Petrel Resources' chief executive David Horgan.

Petrel Resources saw its share price shoot up over 350 per cent today after it said it had identified a target in the South Porcupine basin with a one billion barrel potential.

It becomes the second company, after Providence Resources, to raise the potential of big, commercially viable oil finds off the Irish coast. Like Providence, this breakthrough, if that is what it turns out to be, is by no means an overnight success.

The company...

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