Shares in Soco International plunged by 9% today as the oil explorer prepared to plug and abandon a well after hitting water.
Soco found water-bearing sands in its first well in the Nganzi block in the Democratic Republic of Congo.
It will now drill in a different part of the block.
The company's shares fell 43.7p to 432.1p, giving back most of this week's gains after it found hydrocarbons in Vietnam.
Barclays could miss its ambitious, medium-term profitability target, chief executive Bob Diamond has admitted, as the bank reported a 3%...
Stock markets wobbled and jittery investors are seeking safe havens, as struggling Greece was denied vital bailout funds by Europe's finance...
Environmentalists usually revile them for their gas-guzzling status, but this is one SUV that could become the Chelsea tractor of choice for...
London's luxury brands are gearing up for street parties and exhibitions to cash in on the Queen's Diamond Jubilee this June
Chancellor George Osborne could miss his target of raising £2.5 billion a year through the UK bank levy after Barclays said it is paying a...
A sudden spike in crude oil prices pushed up manufacturers' costs in January, giving the Bank of England a fresh inflation warning a day...
The American owner of the historic Tate & Lyle sugar refinery on the Thames at Silvertown is planning to shed staff because of new EU...
Cable & Wireless Communications saw its shares fall more than 8% after the emerging-markets telecoms firm warned its business in Panama "has...
Four weeks to the day that the Costa Concordia ran aground off the coast of Italy, the ship's owner Carnival was sailing up on claims it is on course for a full recovery
Morning:
6°c
