Oiltek International's stock fell sharply by 4.64% in post-market trading on Tuesday.

The decline followed the company's announcement correcting the signing date of a heads of agreement for a sustainable aviation fuel (SAF) project with BioSeaga to April 2, from a previously stated date of April 6, citing an inadvertent mistake. In a separate statement, the company reiterated that it would only proceed with the deal once all conditions are satisfied.

These communications may have introduced uncertainty among investors regarding the project's timeline and the company's operational diligence, contributing to the negative price movement.