Additional Listing

Petrel Resources PLC
4 March 2002


                              Petrel Resources plc


•   Exploration interests to grow in the Middle East

•   Private placing raises £340,000

Petrel Resources announces that it has completed a private placement of
6,800,000 shares at 5p raising a total of £340,000 (14.9% of the enlarged share
capital).  The funds will be used to further the oil exploration interests of
the company in the Middle East.

Petrel is expanding its scope of activities to include Syria and Yemen in
addition to Iraq.  A team of experts, including directors, is currently
undertaking visits to all three countries.

Commenting, John Teeling the Chairman, said 'Middle East oil is essential to the
Western World.  The current political turmoil in the Middle East opens windows
of opportunity for Petrel.  We will continue to maintain a focus on Iraq where
we are pushing hard to obtain the final signature on an exploration licence.
David Horgan and Guy Delbes will be in Baghdad the week of March 4.

The political risk profile of Iraq is high, with international tensions delaying
the inevitable development of Iraq's world reserves.  Accordingly we are
expanding our scope to Syria and Yemen.  Both countries have significant oil
potential. Present international tensions limit competition for choice assets.
We seek existing projects that oil majors are unable to develop.  Current
regional uncertainties facilitate opportunities that are attractive for Petrel
shareholders.

No mineral has better economics than oil.  Iraq is the lowest cost producer in
the world.   Iraq needs to export oil.  Westerners want to consume energy.
There will be an accommodation.

We appreciate Middle Eastern realities.  Oil majors inability to commit in
current circumstances creates a unique opportunity for Petrel.  The risk is more
than offset by the region's energy potential.  Iraq and its neighbours are
crucial to the world's energy future'.

Three directors are taking up 1,040,000 shares in the placing.  John Teeling is
buying 400,000 shares taking his holding to 5.5% of the enlarged share capital,
David Horgan is taking up 500,000 shares raising his holding to 3.5% of the
enlarged share capital and Guy Delbes is acquiring 140,000 shares giving him
0.31% of the enlarged share capital.

The company has applied for the 6,800,000 shares to be admitted to trading on
AIM and it is expected that admission will take place and dealing will commence
on 8 March 2002.


          PETREL RESOURCES IS AN AIM LISTED OIL EXPLORATION COMPANY
                              FOCUSED ON IRAQ



For further information:

John Teeling, Chairman: [phone]
David Horgan, Managing Director: [phone]
Ken Rees, Winningtons: 0117 317 9477 or mobile [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange