Battalion Oil slumps as buyer Fury Resources fails to meet funding deadlines

Battalion Oil

11/04/2024 15:28

** Shares of independent oil producer Battalion Oil  BATL.A 
slide 18.4% to $5.76 in early trade
    ** Says Fury Resources informed it would fail to meet
certain funding deadlines set forth in their deal terms, signed
last December
    ** Adds Fury will not be able to deliver evidence of funding
    ** Can terminate the agreement if Fury fails to provide the
funding evidence - BATL 
    ** BATL board considering a range of options
    ** BATL, formerly Halcon Resources, shares had risen as much
as 81.4% on Dec. 15 after agreeing to acquired by Fury
    ** Including session's losses, stock is down ~40% YTD

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))