Australia's Finder Energy hits record low on abandoning Dampier basin well

Finder Energy Holdings

27/05/2022 03:58

** Shares of the oil and gas explorer  FDR.AX  fall as much
as 43.2% to A$0.105, hitting their biggest ever intraday pct
drop
    ** FDR says Kanga-1 well in the Dampier sub-basin, Western
Australia, has been abandoned after no commercial hydrocarbons
were intersected  urn:newsml:reuters.com:*:nASX3DXNBs
    ** Shares hit their lowest value to-date
    ** More than 3.8 mln shares change hands, compared with the
30-day average volume of about 520,000 shares
    ** Stock has fallen 14% since its ASX-listing on April 8, as
of last close, vs a 4.6% decline in the S&P/ASX 200 index
 .AXJO 

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))