Shares in Red Emperor Resources took a hit on Tuesday after the company requested a temporary suspension of trading in its shares on AIM ahead of an announcement relating to drilling on its Shabeel North well.
The firm's shares are currently already in a trading halt on the ASX index.
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Previous testing of upper levels had only confirmed water and no oil.
The share price fell 8.65% to 7.92p by 09:17.
NR
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