Petrel Resources (LON:PET) Trading 14.4% Higher

Petrel Resources Plc (LON:PET) shares shot up 14.4% during mid-day trading on Monday . The company traded as high as GBX 1.01 ($0.01) and last traded at GBX 1.01 ($0.01). 300,000 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 567,484 shares. The stock had previously closed at GBX 0.88 ($0.01).

Petrel Resources Stock Up 14.4 %

The stock has a market capitalization of £1.85 million, a price-to-earnings ratio of -7.17 and a beta of 0.57. The company’s 50-day moving average is GBX 0.88 and its 200-day moving average is GBX 1.29.

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.