An American lender accused of fraud in recent High Court proceedings remains central to the resolution of a dispute surrounding the takeover of Dublin-based oil exploration company Petrel Resources by overseas investors. The AIM-listed company headquartered on the Clontarf waterfront issued an “update on agreement with the Tamraz Group” to the stock market on April 3, signalling an “understanding with the Tamraz Group on a way forward”. US-Lebanese businessman Roger Tamraz, his French-based associates Michel Fayad and Said Mehraik, and their Bulgarian-registered company Netoil Inc Ltd agreed to take a majority stake in Petrel last year, but the deal has…

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