Petrel Resources (LON:PET) Trading Down 35.4% – Here’s What Happened

Petrel Resources Plc (LON:PET)’s share price was down 35.4% during mid-day trading on Friday . The stock traded as low as GBX 1.13 ($0.01) and last traded at GBX 1.23 ($0.02). Approximately 2,260,114 shares were traded during mid-day trading, an increase of 754% from the average daily volume of 264,759 shares. The stock had previously closed at GBX 1.90 ($0.02).

Petrel Resources Stock Down 5.2 %

The stock has a market cap of £2.61 million, a P/E ratio of -5.47 and a beta of 0.57. The firm’s fifty day moving average price is GBX 1.31 and its 200-day moving average price is GBX 1.03.

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.