North Sea minor Lochard up for sale

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The Independent Online

Six months after a boardroom coup headed by its largest investor, Henderson, the North Sea oil minnow Lochard Energy has put itself up for sale.

Its major asset is a 10 per cent stake in the Athena field, which currently produces up to 11,000 barrels of oil a day.

With the shares up just 0.5p at 7.375p Lochard was valued at just over £22m last night. Henderson has a 29 per cent stake.