By Steve Moore | Wednesday 16 October 2013
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Having reported a £5.80 million net cash outflow for its year ended 30th June 2013, AIM-listed Wessex Exploration (WSX) has opted out of paying up to £1.5 million of funding requests still expected to be made in 2013 by its Guyane Maritime Permit joint venture (‘Northpet’*) – which is set to lead to Wessex’s interest in the permit reducing from 1.25% to approximately 1.1%.
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