Holding(s) in Company

Petrel Resources PLC
23 December 2003

Petrel Resources plc announces that it was informed on 22 December 2003 that
Gartmore Investment Management plc sold 180,000 shares in the Company on 15
December 2003.  Following this disposal, Gartmore Investment Management plc now
holds 4,363,462 shares in the Company representing approximately 7.496 per cent.
of the issued share capital of Petrel Resources.



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