Longboat Energy

■ SHARES in Longboat Energy slid after a well that was estimated to contain 254m barrels of oil turned out to be dry.

The North Sea oil group said the Copernicus well located off the coast of Norway will be plugged and abandoned.

Polish company PGNiG led the exploration, with Longboat holding a 10pc stake.

‘The drilling operations were carried out well within the time schedule and below budget,’ a Longboat spokesman added. Shares fell 8.9pc, or 4p, to 41p.