Shares of Petrel Resources Plc (LON:PET – Get Free Report) rose 14.3% on Wednesday. The company traded as high as GBX 0.80 and last traded at GBX 0.80. Approximately 526,622 shares were traded during mid-day trading, an increase of 87% from the average daily volume of 281,084 shares. The stock had previously closed at GBX 0.70.
Petrel Resources Trading Down 12.3%
The company has a 50 day moving average price of GBX 0.84 and a 200-day moving average price of GBX 0.84. The company has a market cap of £1.46 million, a P/E ratio of -4.13 and a beta of 0.50.
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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