Drilling Report

Petrel Resources PLC 28 November 2003 Petrel prepares Iraqi oil field development tender Petrel Resources plc ('Petrel' or the 'Company'), the oil and gas exploration company, is continuing with its oil exploration and development activities in Iraq. Petrel is pre-qualified for development of existing fields. This week the Company received the data package for the first of an expected three tenders. Its engineers are now preparing a proposal to develop the Khurmala Dome of the Kirkuk oil field. This work is fully funded by the recent institutional placing. As the business develops, Petrel expects to widen its institutional following. German marketmakers now include Petrel, as the first AIM stock on the Over the Counter market for foreign shares with an existing listing outside of Germany (Auslandsfreiverkehr) which has generated new interest in the Company. This information is provided by RNS The company news service from the London Stock Exchange