Market report: Shares down in Colombian oil adventure

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The Independent Online
EMERALD ENERGY'S Colombian oil adventure is looking distinctly jaded. The shares, 10p earlier this year, fell 0.5p to 3.25p.

There is disappointment over the results so far achieved at its Gigante well and, with its shares on the slide, it is clearly encountering difficulty raising the additional cash, perhaps as much as pounds 10m, it needs to continue its Colombian exploration. Emerald's position is not helped by the collapse of the crude oil price.