Petrel Resources (LON:PET) Stock Price Up 16.4% – What’s Next?

Petrel Resources Plc (LON:PET) shares shot up 16.4% during mid-day trading on Monday . The stock traded as high as GBX 2.20 ($0.03) and last traded at GBX 1.63 ($0.02). 1,065,037 shares were traded during mid-day trading, an increase of 349% from the average session volume of 237,453 shares. The stock had previously closed at GBX 1.40 ($0.02).

Petrel Resources Stock Up 16.4 %

The stock has a market capitalization of £3.60 million, a PE ratio of -7.52 and a beta of 0.57. The business’s fifty day moving average is GBX 1.21 and its 200-day moving average is GBX 0.97.

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.