AFRICA

Cormorant-1 comes up dry

PANCONTINENTAL Oil and Gas has announced its highly anticipated Cormorant-1 well in offshore Namibia has come up dry, pushing the share price down more than 57% this morning.

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Cormorant-1 was classed as one of the world's 20 most watched wells this year by Wood Mackenzie due to its potential recoverable reserves of 124 million barrels. The excitement surrounding the well...

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