Cash-strapped independent Lochard Energy can no longer meet the financial requirements of the UK's energy ministry (Decc) to continue as operator of its North Sea license, the company announced Monday. Lochard, which is listed on both London's Alternative Investment Market (AIM) and the Australian Securities Exchange (ASX) is looking to delist from ASX as it pursues a formal sales process of the P1611 license as no third party has been willing to fund obligatory well commitments.
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