Oil and gas explorer chaired by John Teeling has been in dispute with the Tamraz group
Petrel Resources said it can’t proceed to hand over second tranche of shares at present
Company says director agrees to stand aside from his duties as investigation continues
Exploration group claims shares traded in breach of regulatory rules
Company is also looking into payment for second tranche of shares from Tamraz
Company is also looking into possible breach of lock-in agreement over share sale
Explorer focusing on offshore Ireland plans, Ghana deal and rebuilding Iraqi presence
Company has interests in Ghana, Ireland and Iraq
Oil explorer looking to re-enter Iraq after first-half focus on Porcupine
Petrel Resources looking at joint facility in Crimea against backdrop of sanctions
Petrel Resources executive David Horgan held informal talks about LNG project
Company passed all resolutions at its annual general meeting on Monday
Annual results show company made loss of €256,505, with net assets of €6.7m
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