Hardy Cheer As It Discovers New Oil

HARDY Oil Gas is delighted with two discoveries on its four exploration blocks in India, and is pushing thorough a five-well programme to develop its finds. Hardy (down 212p at 390p) saw first half net profits fall 65pc to 0.95m after output from its Indian wells fell. After a fundraising in June, it has an 18m cash pile. Fortune Oil, which sells oil and gas in China, lifted first half pretax profits 43pc to 4.76m. Fortune rose 0.23p to 6.15p..

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