Xtract shares suspended
Shares in energy and mineral investor Xtract Energy have been suspended after unexpected cash calls left its future in doubt.
Shares in energy and mineral investor Xtract Energy have been suspended after unexpected cash calls left its future in doubt.
The company said it had received the demands from Noreco, the operator of its Danish Luna well, in relation to cost overruns on drilling of the well.
As a result the firm said its financial position was currently uncertain.
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
"The company is currently undertaking a number of discussions with certain existing debtors and creditors and is exploring various potential short term funding options designed to provide access to immediate working capital in order to continue trading," it said.
Xtract added that it was yet to receive any information from Chevron regarding the status of drilling activities of its P2-10 well off the Dutch coast.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
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.
-
Is it time to ride the recovery in emerging markets?
Interview What's the outlook for emerging markets? Gustavo Medeiros, head of research at Ashmore Group, gives his analysis and reviews progress in developing economies
-
Could the Enterprise Investment Scheme cut your tax bill?
The Enterprise Investment Scheme is tax-efficient and potentially lucrative. Taking a chance on the scheme could trim your family’s IHT bill, says David Prosser