Hardy Oil shares fall on India gas pricing uncertainty

7th Aug 2014 16:16

India government's decision to review the country's gas pricing policy from locally produced natural gas has generated an uncertain future for the industry, Hardy Oil & Gas said on Thursday.In particular, and as regards the company's financials, in its interim management statement for the period between 1 April and 7 August the oil firm announced cash and short term investments amounted to $24.1m (£14.3m) at the end of June and the company's working capital position remains strong.The oil firm also noted they're well funded to meet their planned work programmes."Our primary objectives remain to secure key stakeholders' approvals and initiate activity that will take us closer to realising production from our portfolio of assets and continue D3 exploration activity," said Ian MacKenzie, Hardy's chief executive officer.Hardy share fell 4.63% to 103.00 at 15:33 on Thursday.DC