On Monday, Monterey Exploration (TSX: T.MXL, Stock Forum) shares climbed 16% to $3.95 on Monday after the oil and gas explorer/producer provided an operational update with respect to certain of its operations in the Groundbirch area of British Columbia. The 4 - 30 well was flow tested up 4 - 1/2 inch casing and had a measured natural gas rate of approximately 9.0 million cubic feet per day with a flowing wellhead pressure of 7,000 kilopascals after 48 hours of continuous production testing.
As well, shares of Berens Energy (TSX: T.BEN, Stock Forum) shot up 19% to $1.58 as the junior energy firm announced that its Board of Directors has initiated a process to explore strategic alternatives, with a view to enhancing shareholder value.
In Tuesday trading, Mirasol Resources (TSX: V.MRZ, Stock Forum) shares jumped 97% to $1.32 on Tuesday after the micro cap explorer reported partial results from the third phase of drilling from the La Negra zone at its Joaquin Project in Argentina, which included 25.4 meters of 1,164 grams per tonne (g/t) silver and 0.21 g/t gold.
Also, shares of Coretec (TSX: T.CYY, Stock Forum) moved up 153% to 38 cents as the provider of printed circuit board engineering and manufacturing services said it has entered into a definitive agreement pursuant to which DDi Corp. (NASDAQ: DDIC, Stock Forum) will acquire Coretec for approximately $25.2 million, comprised of approximately $7.4 million in cash for Coretec's common stock and the assumption of $17.8 million of Coretec debt outstanding as of September 30, 2009. Under the arrangement, Coretec shareholders will receive 38 cents per Coretec common share.
Wednesday’s market action saw shares of Corridor Resources (TSX: T.CDH , Stock Forum) surged 15% to $3.50 on Wednesday after the oil and gas explorer reported that it has conducted propane fracs and completed initial clean-up flow of two intervals in the upper part of the Frederick Brook formation at the Green Road G-41 (vertical) well in New Brunswick. At the end of a 57-hour flow period, the well was flowing at a restricted rate of 4.1 mmscf/day, consisting of approximately 85% natural gas and 15% propane frac fluid at a flowing wellhead pressure of 2083 psi.
As well, shares of Schneider Power (TSX: V.SNE, Stock Forum) gained 172% to 24.5 cents as the developer of renewable energy facilities announced the signing of a definitive business combination agreement under which Quantum Fuel Systems Technologies Worldwide (NASDAQ: QTWW, Stock Forum) has agreed to acquire in a stock-for-stock exchange all of the outstanding common shares of Schneider Power. The purchase price payable by Quantum is 0.236 of a Quantum common share for each Schneider Power common share. As a result, upon closing of the transaction, Quantum will issue approximately 16.8 million common shares and reserve an additional 2.0 million common shares for issuance upon exercise of the assumed warrants.
On Thursday, U3O8 Corp. (TSX: V.UWE, Stock Forum) shares powered 45% higher to 55 cents on Thursday after the micro cap miner reported uranium mineralization from drilling in the Aricheng West target area in the Kurupung Batholith, in basement rocks near the Roraima Basin in Guyana, which included 2.3 metres at 0.551% (11 pounds per short ton) U308.
As well, shares of Noveko International (TSX: T.EKO, Stock Forum) added 12% at $2.10 as the provider of solutions in the environmental and medical fields announced the launch of its new Microban line of hand sanitizers. The hand sanitizers formerly marketed under the AZURO brand are now sold under the Microban brand name, pursuant to the terms of the August 2009, agreement with Microban International, Ltd., a provider of built-in antimicrobial product protection.
And, in Friday trading, Khan Resources (TSX: T.KRI, Stock Forum) shares climbed 39% to 61 cents on Friday after Russian uranium producer Atomredmetzoloto JSC said it had made an all-cash offer to acquire the Toronto-based miner in a deal valued at $35.1 million, or 65 cents a share, according to The Associated Press.
Finally, Ventana Gold (TSX: T.VEN, Stock Forum), meanwhile, announced that it has been advised that Sociedad Minera La Bodega Limitada, the owner of the mineral rights to the La Bodega property in Colombia, is seeking an arbitration in relation to an option agreement with CVS Explorations Ltda., Ventana's 100%-owned subsidiary. The request for arbitration is an attempt by the vendor to invalidate the option agreement and have the property returned to the vendor. Ventana stock slid 13% to $9.76.
