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.
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How to shield your money as Reeves refuses to rule out income tax hikes and warns of ‘necessary choices’Chancellor Rachel Reeves appeared to lay the groundwork for higher taxes in the Autumn Budget on Tuesday morning and refused to stand by her manifesto pledge not to increase income tax.
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UK state pension is least generous in the G7 – how do other rich countries compare?British retirees get substantially less in state pension than in other wealthy nations, and for fewer years, but the balance is a lower tax burden on working age people
