Production problems maul Mauritanian partners

SHARES in two of the industry’s biggest players plunged this week on the back of news that production at Chinguetti, offshore Mauritania, has been falling – instead of increasing – since start-up. But it was a different story at the junior end of the market, when the good news at the Puffin oil field in the Timor Sea spilled over into AED Oil’s share price.

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Investors rewarded the junior with a 11.5% jump in its stock, which saw it close yesterday at $1.36. This reflected a 26.6% increase for the month.

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