Petrel Resources managing director to step aside to focus on Ghana dispute

Managing director of Petrel Resources David Horgan is to step aside to focus on resolving a dispute in Ghana.

The row with the Ghanian government concerns a decision to grant a licence to a US company over part of what the company believes overlaps with its agreement on Block Tano 2A.

Along with its partner Clontarf Energy, the company has begun legal action in Ghana over the matter, with the High Court granting an injunction in its favour this month. Petrel has a 30 per cent interest in the licence.

In a statement, the company said Mr Horgan would remain as a director, but would step aside "for the time being" to focus on bringing the dispute to a successful resolution. Executive chairman John Teeling will take over the day to day running of operations.