London-White Nile, a UK-based upstream minnow with a controversial exploration deal in Southern Sudan, said December 5 it plans to turn to agriculture as a new business model due to a lack of funding opportunities and ongoing political uncertainty in Sudan. "The board believes that in the current economic environment, which is not conducive to the continued funding of non-producing, early stage oil and gas exploration assets, combined with the current political position in Southern Sudan, the company's current strategy of concentrating on oil and gas exploration is not now in the best interest of shareholders," the company said in a statement.
展开▼
