Petrel Resources plc announced that update shareholders on their understanding with the Tamraz Group on a way forward: The Tamraz Group, of Roger Tamraz, Michel Fayad, and Said Mehraik, will maintain their current interest of circa 32,086,538 ordinary shares. The High Court injunction over these shares will stay in place until all outstanding matters are resolved, to the satisfaction of the Court. The Tamraz Group continues to work on possible investment proposals /deals to be presented to Petrel Resources plc.  Should any of these proceed, it is envisaged that payment will be in the form of Petrel shares.