Petrel Resources (LON:PET) Stock Price Up 4.4% – Here’s Why

Petrel Resources Plc (LON:PETGet Free Report)’s share price rose 4.4% during mid-day trading on Tuesday . The stock traded as high as GBX 0.75 and last traded at GBX 0.71. Approximately 1,898,221 shares traded hands during trading, an increase of 342% from the average daily volume of 429,346 shares. The stock had previously closed at GBX 0.68.

Petrel Resources Stock Up 4.4%

The stock has a market cap of £1.46 million, a P/E ratio of -2.20 and a beta of 0.57. The firm’s 50-day moving average is GBX 0.74 and its two-hundred day moving average is GBX 0.84.

Petrel Resources Company Profile

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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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