Exploration: Shares in Irish exploration firm fall on guarded update

Shares in Irish exploration company US Oil and Gas fell 45 per cent this week after an operations update.

11th May, 2013

Shares in Irish exploration company US Oil and Gas fell 45 per cent this week after an operations update. The shares had been trading at 46p on Monday but closed on Friday at 25p. The share traded at a high of €6.20 as recently September of last year.

Last week, chief executive Brian McDonnell said the company had proved its discovery of crude oil in Nevada and that it had been a tremendous achievement.

But he...

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