Email
Print
Save
December 17, 2007 (LONDON) — Shares in the British White Nile company slumped after the Sudan-focused oil explorer said it is still unsure about its position regarding Block Ba in Southern Sudan.
- WNL shares (Sharecast)
The AIM listed oil firm said most recent developments suggest that it would receive a controlling interest in a new Southern Sudan government company that would hold a 22.5% interest in a consortium that will develop Block B, including Block Ba, Block Bb and Block Bc.
White Nile says it has again asked Sudanese government officials to clarify the situation, the financial news website SHARECAST reported today.
"Obtaining clarity for shareholders over this matter remains the key priority for the board," said the White Nile.
"Although we remain confident in our position, the lack of clarity of title for Block Ba is obviously frustrating," it added.
The Block Ba is attributed by the National Petroleum Commission to a consortium headed by the operator Total after a two year dispute with the British firm.
White Nile is still not producing revenue. Full-year pre-tax losses came in flat at £1.42m.
(SHARECAST/ST)
Latest Comments & Analysis
What if Dr. John Garang were alive today? 2019-12-05 08:21:57 By Nhial T. Tutlam Let’s imagine that on the fateful day of July 30, 2005 the helicopter carrying Dr. John Garang from Uganda back to his base in Southern Sudan arrived safely. Let’s further (...)
The cries of South Sudanese women in Australia 2019-12-04 07:13:57 Biong Deng Biong Amidst Melbourne’s African youth crime saga and its associated political chaos, a quiet cohort watch events unfold, weary and grim-faced. They are the struggling mothers of the (...)
South Sudan’s Security Arrangements: flawed rhetoric vs real practice 2019-12-02 06:41:06 By Steve Paterno Some compatriot South Sudanese wrote on his Facebook status, jokingly by urging people to flock to cantonment sites in big number to fulfil the required 83,0000, a threshold the (...)
MORE