Shares of Petrel Resources PLC (LON:PET) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.03 and traded as low as $6.91. Petrel Resources shares last traded at $7.25, with a volume of 566,587 shares changing hands.

The firm has a 50-day moving average of GBX 4.42 and a two-hundred day moving average of GBX 2.06. The company has a market capitalization of $12.65 million and a PE ratio of -1.68.

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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