Shares in Irish explorer Petrel fall on €800k delayed payment

Shares in Petrel Resources, the Irish oil explorer, fell sharply after it said that an international investor had failed to make a payment for a second tranche of shares, by a deadline it had set earlier this week.

Petrel had announced last year a new strategy to return to seeking out oil exploration licenses in the Middle East and had taken on a new investor under the Tamraz Group.