Tuskar Resources has taken the final step toward its dissolution with an application to have its stock market listing cancelled.

The troubled exploration group has applied to the Irish Stock Exchange to have its dealing facility on the Exploration Securities Market cancelled with effect from Monday. Dealings in the company, which ran into cash-flow problems as a result of a dispute with its Nigerian partners earlier this year, have been suspended since January.

Problems became evident in January when Tuskar said it would wind down its operations because it could not generate the revenue to pay its expenses.

The move followed its failure to resolve a dispute with its Obe oil field partner in Nigeria, Cavendish Petroleum, and court action in London by one of its creditors, Norwegian drilling group Brovig Offshore.

A dividend from the proceeds of the liquidation is not expected.