Petrel Resources, the Irish AIM-listed oil company focused on Iraq, announced a loss of €519,000 for the year ending December 31.

DERMOTT LENNON opened Ireland’s account at the Fáilte Ireland Dublin Horse Show, racing to victory in the Speed Derby.

EXPLORATION firm Petrel Resources has reported a significant increase in losses for 2004.

Petrel Resources, the Clontarf-based oil and gas exploration company, is due to submit tenders to develop three oil fields in Iraq - Kirkuk, Hamrin and Subba/Luhais.

Irish exploration company Petrel has placed over seven million shares at 13p each in a private placing with a small number of institutions raising £959,000 (€1.402m).

Indonesia’s state-owned Pertamina oil company will restart an oil and gas exploration programme in Iraq interrupted earlier this year by the US-led attack, said a statement today.

IRELAND’S Billy Twomey and Cian O’Connor put their rivals in the shade at a sunbaked Dublin Horse Show as they claimed victory in the two main classes.

A heavy sandstorm engulfed most of Egypt today, reducing visibility to less than 500 meters and forcing several flights, including a plane carrying Sudanese President Omar el-Bashir, to land elsewhere, airport officials said.