Genesis cuts earnings forecast as KS-9 disappoints nzherald.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nzherald.co.nz Daily Mail and Mail on Sunday newspapers.
Genesis said the joint venture's "intervention" efforts had been unable to produce sufficient flow to sustain operation of the well because of reservoir pressure level and liquid inflows.
Retirement village operator Summerset Group, gaining nearly 3 per cent, led the way as the New Zealand sharemarket made a late turnaround. A choppy S&P/NZX.
NZ Oil and Gas (NZOG) said it planned to raise $25 million to invest in growth projects in New Zealand and Australia.
Dual-listed NZOG also plans to make t