Petrel Resources (LON:PET) Stock Price Up 24.1% – Here’s Why

Petrel Resources Plc (LON:PET)’s share price rose 24.1% during trading on Wednesday . The company traded as high as GBX 0.90 and last traded at GBX 0.90. Approximately 1,125,450 shares changed hands during trading, an increase of 260% from the average daily volume of 312,223 shares. The stock had previously closed at GBX 0.73.

Petrel Resources Stock Up 24.1%

The stock has a market cap of £1.87 million, a PE ratio of -2.81 and a beta of 0.66. The stock has a 50-day moving average of GBX 0.81 and a 200 day moving average of GBX 0.78.

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.