London-listed Dominion Petroleum’s share price slumped by over 40% on Wednesday after its Ngaji-1 (Silverback) well in Uganda came up dry. The Bermuda-based explorer said the well was drilled to a depth of 1,765 meters in Block EA4B and “results were inconclusive as it did not identify any significant hydrocarbons.” The well, the first drilled in the Lake Edward Graben, which borders Congo (Kinshasa), was aimed at testing the geology of the basin.
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