KUALA LUMPUR (Jan 6): Reach Energy Bhd has announced that its unit in Republic of Kazakhstan might be affected from the country’s recent state of emergency declaration. Reach Energy further noted that the state of emergency includes curfew, movement restrictions, ban on mass gatherings and internet disruptions. Reach Energy added that it will make further announcements on the financial and operational impacts as well as consequences in relation thereto as and when there is new development. According to the oil and gas exploration and production company’s website, Reach Energy took over the operatorship of Emir-Oil LLP with a majority of 60% indirect interest as of late 2016. Reach Energy’s share price finished 7.69% or half a sen higher at seven sen, bringing a market capitalisation RM76.75 million.

Source: The Edge Markets January 06, 2022 17:11 UTC