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Investment fund blames share price slump on AIM-quoted oil and gas company

Crystal Amber (CRS:AIM), the investment group run by veteran Richard Bernstein, has 150m shares in UK oil company Hurricane Energy (HUR:AIM), representing its largest holding.

That’s important because a 33% collapse in Hurricane’s share price over the last three months has weighed on Crystal Amber’s share price as well, down 8% over the same period.

The investor blames Hurricane for its ‘poor handling’ of a warrant issue in May and comments at the June AGM about funding.

Hurricane’s woes also reflect a recent fall in oil prices which likely undermine the market’s faith in its ability to secure a development partner.

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