Petrel Resources (LON:PET) Shares Down 11.5% – Should You Sell?

Petrel Resources Plc (LON:PET)’s share price fell 11.5% on Thursday . The company traded as low as GBX 1.15 ($0.01) and last traded at GBX 1.15 ($0.01). 760,043 shares changed hands during trading, an increase of 48% from the average session volume of 512,003 shares. The stock had previously closed at GBX 1.30 ($0.02).

Petrel Resources Stock Performance

The company has a market cap of £2.11 million, a PE ratio of -7.17 and a beta of 0.57. The stock’s 50-day simple moving average is GBX 0.99 and its 200 day simple moving average is GBX 0.93.

Petrel Resources Company Profile

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.