Petrel Resources (LON:PET) Trading 12.5% Higher – Here’s Why

Petrel Resources Plc (LON:PET) shares were up 12.5% during trading on Wednesday . The stock traded as high as GBX 0.90 and last traded at GBX 0.90. Approximately 653,372 shares traded hands during trading, an increase of 128% from the average daily volume of 286,912 shares. The stock had previously closed at GBX 0.80.

Petrel Resources Trading Down 4.2%

The stock has a market cap of £1.74 million, a P/E ratio of -2.62 and a beta of 0.66. The business has a 50-day simple moving average of GBX 0.80 and a 200 day simple moving average of GBX 0.78.

Petrel Resources Company Profile

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.