Today's other stories in brief

Petrel's losses rise 25%  to 519,000

Irish oil company Petrel Resources has posted a €519,000 loss for the year ended December 31st, 2007, up nearly 25 per cent on the previous year's loss of €415,570.

The company, which is listed on London's AIM, said that revenue had increased during the period due to the ramping up of the Subba and Luhais engineering and production (EPC) contract.

Revenue for the year was €29.95 million, compared to zero for the end of 2006.

Petrel, which has worked in Iraq since 1999, continues to work on three projects: the Subba Luhais EPC project, the Dhufriya technical co-operation agreement and the Block 6 exploration territory in the western desert.

The company recently completed the Merjan technical evaluation with its partner Itochu of Japan.

Petrel chairman John Teeling said the company was making progress in Iraq but that it was slow.

United Drug names executive director

United Drug has appointed Alan Ralph as an executive director of the company with immediate effect.

Mr Ralph joined United Drug in 1999 and held various roles throughout the group before being appointed managing director of its pharma wholesale division in 2005.

Prior to joining United Drug, he worked in the IT industry with Banta Corporation.

Mr Ralph is a graduate of University College Dublin and a Fellow of the Institute of Chartered Accountants in Ireland.

Aminex sells stake in Amicoh

Oil and gas exploration company Aminex, which is listed in London and Dublin, has sold its shareholding in Amicoh Resources to fellow shareholder Mocoh Resources for $250,000 (€160,000).

It is now no longer a participant in the Manja licence in Madagascar.

Aminex chairman Brian Hall said progress in Madagascar had been slower than anticipated and selling its interest would allow the company to concentrate more resources on other projects with a potentially more immediate impact.

These included appraisal and commercialisation of its recent Kiliwani North discovery, exploration of the adjoining Songo-Songo West permit and first drilling in the Ruvuma Basin, all in Tanzania.

Payzone shares up 1.5% on AIM

Shares in troubled Dublin-based electronic payments group Payzone rebounded on London's AIM yesterday. Shares were up 25 pence to £16.50.

Officials, trustees in share deals

Elan chief executive Kelly Martin sold 33,000 of the company's shares at $32 per share as part of a scheduled exercise of 33,000 share options and sale of 33,000 shares pursuant to trading plan of May 17th, 2006.

Aer Lingus non-executive director, David Begg, has purchased 500 of the airline's shares at €1.58 per share.

Michael Chadwick and Colm Ó Nualláin, in their capacity as trustees of Grafton Group Share Participation Scheme, sold 279 shares in the company at €4.359 each.

EU plan for safer online shopping

The EU's consumer chief is to propose rules to make it easier and safer to shop online in the 27-nation bloc.

"This autumn I will propose new legislation to cut back the current jungle of complex laws, said commissioner Meglena Kuneva.