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LONDON (Alliance News) - SeaEnergy PLC Thursday noted the fall in its share price Thursday, after shares in the company closed down 18% at 8.03 pence, and noted that an AIM-listed company in which it holds a share will plug and abandoned a well.
Lansdowne Oil & Gas PLC, in which SeaEnergy has an 18.67% interest, said Thursday that its Midleton exploration well in the Celtic Sea had encountered gas volumes that were not considered commercial and that well was to be plugged and abandoned.
Shares in Lansdowne closed down 50% at 3.72 pence Thursday.
SeaEnergy said it was not aware of any other reasons for the drop in its share price.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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