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Antrim Energy shares plunge on $50.4-million writedown

Kevin Van Paassen/The Globe and Mail

Antrim Energy Inc. shares were down about 45 per cent Wednesday. The Calgary-based company reported earlier that its fourth quarter included a $50.4-million impairment charge as a result of its decision to opt out of participating in the Fionn Field in the North Sea.

It previously had a 35.5 per cent working interest in the block. Antrim shares traded as low as 19 cents Wednesday on the Toronto Stock Exchange, the lowest on records going back at least five years, but recovered slightly later in the day.

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