Wessex Exploration has fallen today on news of delays to the ramp up of the Tullow-owned Jubilee field in Ghana.
Wessex owns a 1.25% stake in the project which, according to reports today, will require $400m in design alterations.
It's now thought peak oil production of 120,000 barrels a day will not be reached until 2013.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Tullow had dropped 5.63% by 10.24, Wessex was down 12.4% at the same time.
Over the last 12 months Wessex shares have risen 56%.
BS
-
Ofgem proposes new energy tariffs with low or no standing changesStanding charges have invited public backlash as households battle high energy bills
-
Google shares bounce on Gemini 2.0 launchGoogle has launched the latest version of its Gemini AI platform, and markets have responded positively. Is it time to buy Google shares?
