Petrel Resources PLC (LON:PET) shares shot up 8% during trading on Monday . The stock traded as high as GBX 2.70 ($0.04) and last traded at GBX 2.70 ($0.04). 340,502 shares were traded during mid-day trading, an increase of 1,499% from the average session volume of 21,291 shares. The stock had previously closed at GBX 2.50 ($0.03).

Separately, Northland Securities reissued a “corporate” rating on shares of Petrel Resources in a report on Monday, September 17th.

About Petrel Resources (LON:PET)

Petrel Resources Plc, together with its subsidiaries, operates as a junior oil and gas exploration company. The company holds a 15% interest in 475 square kilometers of prospective acreage; and owns 100% licensing options covering an area of 924 square kilometers in Porcupine Basin, Ireland. It also holds a 30% interest in the Tano 2A Block covering 1,532 square kilometers located in Ghana; and interests in various licenses situated in Wasit province in Iraq.

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