Shares of Petrel Resources PLC (LON:PET) rose 9.5% during mid-day trading on Tuesday . The company traded as high as GBX 1.74 ($0.02) and last traded at GBX 1.73 ($0.02). Approximately 670,000 shares traded hands during trading, an increase of 3,047% from the average daily volume of 21,291 shares. The stock had previously closed at GBX 1.58 ($0.02).

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About Petrel Resources (LON:PET)

Petrel Resources Plc, together with its subsidiaries, operates as an oil and gas exploration company. The company holds a 15% interest in the Frontier Exploration Licence 3/14 in the Porcupine Basin, Ireland; and owns a 10% interest in licensing option (LO) 16/14 and 100% interests in LO 16/24 and LO 16/25 in Ireland.

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