The cancellation comes just weeks after Roxi Petroleum outlined a $25 million three-well drilling programme for which a rig had been secured.
Chairman Clive Carver admitted the reversal was “clearly disappointing”, but said the asset remained drill-ready and that “work has already started to find a replacement farm-in partner”.
The news sent shares in the Central Asia-focused junior down 24% by 14:00 GMT on London's Alternative Investments Market to £0.02.
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