Additional Listing

Petrel Resources PLC
04 March 2005


                    Petrel announces institutional placing


Petrel Resources (AIM: PET), the oil exploration company focused on Iraq and the
Arabian Western Desert, is pleased to announce an institutional placing of
2,440,000 Ordinary Shares at 43p each.  Of these shares, 366,000 will be issued
and admitted to AIM on 6 May 2005 and a further 366,000 will be issued and
admitted to AIM on 7 July 2005.


In addition, Petrel has issued 61,000 Ordinary Shares in settlement of
professional fees in respect of the placing.


Accordingly, Petrel has applied for 1,769,000 Ordinary Shares to be admitted to
AIM now and it is expected that admission of these shares, and the commencement
of dealings, will take place on 7 March 2005.  It is expected that the balance
of 732,000 shares will be admitted to AIM in two stages as noted above.


The funds will be used for Petrel's ongoing oil field development and
exploration activities in Iraq and Jordan.


Petrel awaits a decision by the Iraqi authorities on two tenders for oil field
service contracts to develop, as a contractor, two separate oil field projects
in Iraq:


•  a green field site in central Iraq, which has the potential to be
   developed as a 100,000 barrel per day oil field


•  two neighbouring oil fields in southern Iraq.  The brown field
   facilities have the potential be developed to produce 200,000 barrels daily.


Further tenders will be submitted during 2005.  Work is now underway on the
first of these tenders.


Petrel is also pushing ahead with its exploration in the Arabian Western Desert:


•  Work is concentrated on Block 6 in the relatively unexplored
   Paleozoic Basin of Western Iraq.  Work is underway on mapping, seismic
   interpretation, satellite imaging and geological sampling.  Four major 
   prospects have been identified from seismic lines in Block 6.  This 
   combination of huge structures in an area of proven source rock and reservoir 
   sands makes Block 6 the most promising of the desert blocks


•  Petrel has also signed a Memorandum of Understanding with the
   Jordanian government's Natural Resources Authority to re-process seismic and
   conduct other exploration work on the 8,750 km2 East Safawi Block close to the
   Iraq border.  Petrel has the right to opt for a Production Sharing Agreement.


Contacts:


David Horgan            + 353 87 292 3500

John Teeling            + 353 1 8332833

Jim Finn                + 353 1 8332833

Bell Pottinger Corporate & Financial

Nick Lambert            [phone]



Rowan Dartingon

Barrie Newton           [phone]


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            The company news service from the London Stock Exchange