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African Petroleum shares halted after fall 57 pct on Gambia report
July 4, 2017 / 1:59 PM / 3 months ago

African Petroleum shares halted after fall 57 pct on Gambia report

OSLO, July 4 (Reuters) - African Petroleum said it will issue a statement “in due course” after Reuters reported on Tuesday that Gambian authorities had ended talks to extend its two exploration permits.

Shares in the Oslo-listed firm were suspended after falling 57 percent, prompting the Oslo bourse to say it was investigating the share price movement.

“It is standard procedure when the share price falls so much,” a bourse spokesman said.

Earlier, a senior oil official told Reuters that Gambia had ended talks with African Petroleum to extend oil exploration in two of the West African country’s most promising offshore blocks. (Reporting by Ole Petter Skonnord; writing by Gwladys Fouche; editing by Alexander Smith)

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