Chariot Oil shares down as Kabeljou Well fails to perform

Chariot Oil shares down as Kabeljou Well fails to perform

Shares at Chariot Oil & Gas crashed by 66% yesterday as it was revealed that a second well off the coast of Namibia failed to find any commercial amounts of Oil and Gas and would be plugged.
Chief executive, Paul Welch said the development was dissappointing, ‘but there are still other areas of interest in this licence and these well results may provide us with additional prospectivity in other horizons’.
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