...investors are shocked.
A small Scotland?s oil and gas firm, an operator in North Sea, Edinburgh Oil & Gas (EOG), confirmed yesterday it has failed to find gas in its latest exploration well: investors are shocked.
EOG?s shares fell 5 per cent, to 173.5p on the news.
The Company?s CEO Alf Bissett said that the well was very close to some successful discoveries, so it was a relatively low-risk venture.
?It?s unfortunate, but what gas we found there was not commercially viable."
The news completes a disappointing 12 months for EOG, which has drilled four wells in the North Sea this year without one success.
