STOCK WATCH

INCREASED losses weren’t putting off investors in oil and gas firm Savannah Petroleum, as it released half-year results.

Shares climbed 9.1pc, or 2.7p, to 32.5p as the company said it was ready to test its new Amdigh well in Niger.

Operating losses widened from £4.6m in the first half of 2017 to £14.5m this year. But chief executive Andrew Knott reasoned it had been a ‘busy first half’ after the company, which focuses on exploring oil sites in Niger and Nigeria, made two discoveries.