NZOG blames declining share price on Mataku well report, stock drops further

Thu, 16 Jan 2014

Jan. 16 (BusinessDesk) - New Zealand Oil & Gas, which has interests in the Tui and Kupe fields, said the recent slide in its share price may reflect its report this week that no significant gas or oil shows were found at its Matuku well near Taranaki. The stock fell further after a trading halt was lifted. The Wellington-based company’s share price fell 3.6 percent on Tuesday when it gave the update, and was recently at 78 cents, down 3.7 percent on the day. NZOG believed its share price has been affected by the Matuku update, which it has a...

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