Parex Resources falls on no economic hydrocarbons found in Chirimoya exploration well

Parex Resources

17/07/2023 15:09

** Shares of Canada-based oil co Parex Resources  PXT.TO 
fall 8.3% to C$26.63 - biggest pct. drop in 11 months
    ** Co says it has abandoned the Chirimoya exploration well
in Colombia after finding no signs of economic hydrocarbons
    ** The well was one of three wells in its 2023 exploration
program
    ** Early drilling at the remaining two wells is expected to
begin in the fourth quarter - co
    ** Including session losses, stock is up 32% so far this
year

 (Reporting by Arshreet Singh)
 ((Twitter: https://twitter.com/Arshreets))