Gulfsands Petroleum renews Chorbane permit

Oil and gas producer Gulfsands Petroleum has said that the Chorbane permit, located onshore Tunisia, has been renewed for a further period of three years.

Under the terms of the licence renewal, 20% of the previous permit area will be relinquished.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

If the well reaches commercial success, Gulfsands, which holds a 40% interest in the licence, will have the right to become its operator.

The share price fell 4.07% to 118p by 10:06.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.