White Nile shares fall 12 pct as trading resumes

LONDON, May 23 (Reuters) – Shares in British-based oil explorer White Nile fell on Monday as trading restarted following an oil deal in southern Sudan, although the drop was not as severe as dealers had predicted.

By 0709 GMT White Nile shares were down 12 percent at 120-1/2 pence. The shares were suspended at 137p in February, just a week after it listed due to a lack of details about its deal in Sudan.

Trading restarted after White Nile said last week it had struck a deal for oil rights in southern Sudan in return for giving up a half stake in the company.