Petrel Resources Plc (LON:PET – Get Free Report) dropped 8% on Friday . The company traded as low as GBX 1.01 ($0.01) and last traded at GBX 1.01 ($0.01). Approximately 38,775 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 494,542 shares. The stock had previously closed at GBX 1.10 ($0.01).
Petrel Resources Trading Down 9.1%
The firm has a market capitalization of £2.21 million, a P/E ratio of -4.61 and a beta of 0.57. The company has a 50-day moving average of GBX 1.08 and a 200-day moving average of GBX 1.17.
About Petrel Resources
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.
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