The statement itself was, in fact, rather brief and somewhat lacking in detail. Petrel said:
In mid 2012, Petrel appointed a new Baghdad/Amman based team of Iraqi citizens to review the standing of and opportunities for Petrel in Iraq. The first objective was to clarify the position of Petrel with the national authorities in relation to existing and historic projects in which Petrel has or had an interest. This is done.
The second objective is to work with national and regional authorities in Iraq to identify projects in which Petrel can be involved. This work is ongoing.
Nevertheless, given the share price pop, it seems to have pleased some shareholders. The shares have steadily declined for a long time now, having peaked at 150 pence some five years ago.
Serica sources a farm-in
Serica had previously partnered with Premier Oil
Leni losses increase
Leni Gas and Oil
Faroe moves into the black
North Sea specialist Faroe Petroleum
The company said its net cash was £103 million at the period end and that its exploration program was fully funded, partly helped by Norwegian tax rebates. Faroe shares were little changed at 154.5 pence.
Kentz's new contract
Finally, Kentz Corporation
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