Clontarf Energy’s board unaware of reasons for share price spike

Company’s share price rose 136% in 13 day period in March

Clontarf Energy chairman John Teeling. Photograph: Dave Meehan

Clontarf Energy chairman John Teeling. Photograph: Dave Meehan

 

Clontarf Energy’s board is not aware of any material reasons for the recent spike in the company’s share price, it said on Friday of the 136 per cent rise which occurred in March.

Between March 18th and March 31st, the oil and gas explorer’s share price rose from 0.38p to 0.9p, the London-listed company said while also updating the market on its plans.

Clontarf said “high level discussions” it had scheduled for March to take place in Ghana, Europe and Bolivia in relation to its projects have been postponed due to the coronavirus pandemic.

Operate efficiently

“Clontarf continues to progress its interests in Ghana and Bolivia, maintaining cordial communications with the relevant authorities in both countries, and continues to operate efficiently on minimal expenditure,” the company said in a stock exchange update.

Among the topics for discussion was its plan to advance work on its key asset in Ghana.