Shares of Petrel Resources Plc (LON:PET – Get Free Report) dropped 10% on Wednesday . The stock traded as low as GBX 0.80 and last traded at GBX 0.81. Approximately 155,138 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 307,695 shares. The stock had previously closed at GBX 0.90.
Petrel Resources Stock Performance
The firm’s fifty day simple moving average is GBX 0.81 and its 200 day simple moving average is GBX 0.78. The firm has a market cap of £2.08 million, a P/E ratio of -3.13 and a beta of 0.66.
About Petrel Resources
Petrel Resources Plc, together with its subsidiaries, operates as an oil and gas exploration company. The company holds a 100% interest in the Frontier exploration license 3/14 located in Ireland. It also holds a 30% working interest in the Tano 2A Block covering an area of 1,532 square kilometers in Ghana; and holds interest in the Western Desert Block 6 located in Iraq. Petrel Resources Plc was incorporated in 1982 and is based in Dublin, Ireland.
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