Abu Dhabi – Mubasher: Dana Gas’ stock declined following the approval of the additional limited drilling activities to be carried out in Egypt.

The board’s approval on Wednesday came after the company received dues from the country’s government.

The company’s stock fell 6.98% to AED 0.40, its lowest level since January 2016. The stock generated AED 12.75 million after trading 31.02 million shares through 121 transactions.

Dana Gas had announced last week receiving AED 74 million ($20 million) from the Egyptian government as a partial payment of its outstanding receivables.