Afren Advances After ‘Significant’ Light-Oil Find: London Mover
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Afren Plc, a U.K. oil explorer in Africa and northern Iraq, rose in London after its Ogo well discovered a “significant” light-oil field in Nigeria.
Afren gained 7.3 percent to 130.6 pence, the second biggest gain on the benchmark FTSE All-Share index. Its well was drilled to 10,518 feet (3,206 meters) and encountered a 524 feet gross hydrocarbon section, London-based Afren said in a statement.