By Philip Waller
Date: Wednesday 04 Jun 2014
LONDON (ShareCast) - Shares in Clontarf Energy and Petrel Resources shot up on news that talks had begun to try to resolve a legal dispute over an oilfield that they own in Ghana.
Clontarf's stock climbed 0.25p or 50% to 0.75p by 14:06 in London as Clontarf and Petrel said legal action they had launched to prevent a rival drilling part of their Tano 2A exploration licence had been temporarily adjourned for discussions.
Petrel's shares rose 1p or 10.8% to 10.25p.
Clontarf and Petrel obtained an injunction to prevent the Ghanaian government awarding part of Tano 2A, in which they have stakes of 30% and 60% respectively, to a US company.
They said the government had completed the agreement despite the injunction and they pledged to fight the deal in the courts.
Clontarf said in a statement last week: "Despite every effort on our part, neither the Ghanaian National Oil Corp nor the state would engage with Clontarf, so we were forced to obtain a High Court injunction in Accra.
"Despite the injunction, the agreement was ratified and announced in May. Clontarf is actively pursuing court relief in Ghana."
PW
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Currency | UK Pounds |
Share Price | 0.034p |
Change Today | 0.003p |
% Change | -8.22 % |
52 Week High | 0.14 |
52 Week Low | 0.032 |
Volume | 51,106,796 |
Shares Issued | 5,193m |
Market Cap | £1.74m |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
No dividends found |
Time | Volume / Share Price |
16:24 | 2,892,250 @ 0.034p |
16:02 | 84,889 @ 0.032p |
15:58 | 16,466,600 @ 0.033p |
13:07 | 10,000,000 @ 0.033p |
12:57 | 730,000 @ 0.035p |
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