New Risk • Jul 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€296k free cash flow). Negative equity (-€818k). Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£1.77m market cap, or US$2.35m). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings have declined by 11% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€296k free cash flow). Negative equity (-€818k). Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£1.87m market cap, or US$2.47m). Tillkännagivande • Jun 18
Petrel Resources Plc, Annual General Meeting, Jul 23, 2026 Petrel Resources Plc, Annual General Meeting, Jul 23, 2026. Location: the teeling whiskey distillery, 13 17 newmarket, dublin 8, d08 kd91, Ireland New Risk • Apr 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-€649k). Revenue is less than US$1m. Market cap is less than US$10m (UK£1.66m market cap, or US$2.20m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). New Risk • Nov 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€269k free cash flow). Negative equity (-€649k). Revenue is less than US$1m. Market cap is less than US$10m (UK£1.35m market cap, or US$1.77m). Minor Risk Share price has been volatile over the past 3 months (8.6% average weekly change). Tillkännagivande • Nov 10
Petrel Resources plc Announces Board Appointments, Effective 10 November 2025 Petrel Resources Plc announced that James Finn has been appointed to the Board as an Executive Director. Additionally, John Teeling has been appointed as Non-executive Chairman. Both appointments are effective 10 November 2025. Tillkännagivande • Oct 31
Botswana Diamonds plc Announces Demise of David Horgan, Cofounder and Director of Botswana Diamonds Plc, Cofounder and Chairman of Petrel Resources Plc, Cofounder and Chairman of Clontarf Energy Plc, and Founder Chairman of Greenore Gold plc It is with the deepest sadness that Botswana Diamonds plc announced the passing of David Horgan. David was a cofounder and director of Botswana Diamonds Plc, cofounder and chairman of Petrel Resources Plc, cofounder and chairman of Clontarf Energy Plc, and founder chairman of Greenore Gold Plc. David, aged 66 at the time of his death, was born in Belfast, had his Primary Education in Dublin, his High School in British Colombia, received a first-class honours law graduate from Cambridge in England and obtained a Master's in Business Administration from Harvard Business School. His early professional career was overseas with the Boston Consulting Group. He returned to Ireland in 1991 to pursue his interest in Natural Resources. After a short period with Goffs, he joined Kenmare Resources where he became Commercial Director until 1992 when he joined John Teeling and Jim Finn with their stable of resource companies based in Clontarf, in Dublin. New Risk • Sep 19
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€269k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€269k free cash flow). Negative equity (-€649k). Revenue is less than US$1m. Market cap is less than US$10m (UK£1.87m market cap, or US$2.52m). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Tillkännagivande • Jun 20
Petrel Resources Plc, Annual General Meeting, Jul 30, 2025 Petrel Resources Plc, Annual General Meeting, Jul 30, 2025. Location: the rui plaza the gresham, 23 o connell street upper, dublin 1, d01 c3w7, Ireland New Risk • Apr 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-€350k). Revenue is less than US$1m. Market cap is less than US$10m (UK£1.88m market cap, or US$2.43m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Tillkännagivande • Aug 01
Petrel Resources plc Announces Board Changes Petrel Resources Plc announced that Non-executive Directors Ayman Asfari andFrancesca Di Carlo have notified the Board of their intention to step down from their duties and do so from today’s date (31 July). Ayman Asfari co-founded Petrofac International in 1991 and has served as a Non-executive Director following his retirement as Group Chief Executive at the end of 2020. Ayman led the successful public listing of the Company in 2005 and under his leadership Petrofac became established as a leading international service provider to the energy industry. As a result of the Board changes effected from now, the Directors now sit on the following Board Committees as follows: Nominations Committee: René Médori (Chair), Sara Akbar, Matthias Bichsel, David Davies, Audit Committee: David Davies (Chair), Matthias Bichsel, Sara Akbar, Compliance & Ethics Committee: Sara Akbar (Chair), Matthias Bichsel, David Davies, Remuneration Committee: Matthias Bichsel (Chair), Sara Akbar, David Davies; and Special Committee: Aidan de Brunner (Chair), Tareq Kawash, Afonso Reis e Sousa. Tillkännagivande • Jun 21
Petrel Resources Plc, Annual General Meeting, Jul 25, 2024 Petrel Resources Plc, Annual General Meeting, Jul 25, 2024. Location: the hotel riu plaza the gresham, 23 o connell street upper, dublin 1, d01 c3w7, Ireland New Risk • Jun 21
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€227k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€150k free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Negative equity (-€227k). Revenue is less than US$1m. Market cap is less than US$10m (UK£1.84m market cap, or US$2.32m). Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding). New Risk • Apr 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (UK£3.68m market cap, or US$4.53m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (3.4% increase in shares outstanding). New Risk • Apr 05
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (UK£2.48m market cap, or US$3.14m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (9.7% average weekly change). Shareholders have been diluted in the past year (3.4% increase in shares outstanding). New Risk • Jan 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€263k free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (UK£5.33m market cap, or US$6.78m). Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding). New Risk • Nov 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€263k free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (UK£3.56m market cap, or US$4.43m). New Risk • Jun 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€219k free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (UK£1.69m market cap, or US$2.16m). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). Tillkännagivande • Jun 20
Petrel Resources Plc, Annual General Meeting, Jul 27, 2023 Petrel Resources Plc, Annual General Meeting, Jul 27, 2023, at 11:00 Coordinated Universal Time. Location: the Hotel Riu Plaza TheGresham, 23 O'Connell Street Upper, Dublin 1, D01 C3W7 Dublin 1 United Kingdom Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Riadh Hameed was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Riadh Hameed was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
