Petrel confident of making progress on Irish prospects

John Teeling has said exploration firm Petrel Resources, of which he is chairman, has ample resources to weather the current challenging market conditions produced by the low oil price environment.

He said yesterday that Petrel anticipates early discussions with the Irish authorities surrounding the three-acreage packages applied for in this month’s licensing round and is “hopeful of success” in being awarded new licences.

“The immediate future for Petrel [which also holds assets in Ghana and Iraq] is tied to offshore Ireland,” said Mr Teeling.