Video Showcase

Junior energy stock gushes on light oil discovery

12/4/2012 5:36:18 PM | Sean Mason

4097 Reads | 1 Comments

Rate this

clarity
3

clarity : 3
Rate this:

overall quality
3 overall quality : 3
Average quality rating by the Stockhouse community.

credibility
4

credibility : 4
Rate this:

usefulness
4

usefulness : 4
Rate this:

This as a key milestone powered a small tech play Tuesday

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, December 4, 2012

TORONTO (SHfn) – Canacol Energy (TSX: T.CNE, Stock Forum) shares jumped 12% to 32.5 cents on volume of more than 3.2 million shares Tuesday after the oil and gas producer/explorer reported results of its Agueda 1 ST exploration well in the Llanos Basin of Colombia. The Agueda 1 ST encountered 70 feet of oil pay within the C7, Lower Gacheta, which yielded 1,832 barrels of gross oil per day (1,466 barrels of net oil per day for Canacol) of 28 degree API light oil in a production test.

As well, shares of OPEL Technologies (TSX: V.OPL, Stock Forum) moved up 49% to 59 cents as the company announced that its U.S. affiliate, ODIS Inc., has successfully produced an integrated laser device, thereby achieving a key milestone in its Planar Optoelectronic Technology (POET) process, which enables high-performance devices fusing optical and electronic devices together on a single chip.

Painted Pony Petroleum (TSX: V.PPY, Stock Forum), meanwhile, said it has agreed to acquire certain assets and lands in the Kobes area adjacent to its core Montney project in British Columbia for $108 million. The company also announced a $150 million bought deal financing at $10.15 per common share. Painted Pony stock slipped 6% to $10.09.

And, New Carolin Gold (TSX: V.LAD, Stock Forum) late Monday reported that it has entered into a Letter of Intent with Shoreline Resource Management Group to initiate gold production from the tailings processing facility at the Carolin Mine in British Columbia in 2013. New Carolin Gold shares rose 28% to 11.5 cents on Tuesday.

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Expedition Mining Inc. (V.EXU, Stock Forum)	57.14%
Active Growth Capital Inc. (V.ACK, Stock Forum)	50.00%
OPEL Technologies Inc. (V.OPL, Stock Forum)	49.37%
CIBT Education Group Inc. (T.MBA, Stock Forum)	44.12%
Doxa Energy Ltd. (V.DXA, Stock Forum)	35.71%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Overlord Capital Ltd. (V.OVD, Stock Forum)	-54.55%
Viper Gold Ltd. (V.VPR, Stock Forum)	-50.00%
Nevada Geothermal Power Inc. (V.NGP, Stock Forum)	-50.00%
Northcore Resources Inc. (V.NCR, Stock Forum)	-50.00%
All in West! Capital Corporation (V.ALW, Stock Forum)	-50.00%

ABOUT THE AUTHOR

Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

Stockhouse Conflict and Disclosure Policy:

Stockhouse publishing Ltd., owners and operators of Stockhouse.com, has established the following rules to ensure that there is no appearance of impropriety on the part of any Stockhouse Editorial writers ("Writers"). The content of Stockhouse Editorial articles (the "Articles") are the opinion of the Writer and any reliance on the content of these articles is at your sole risk. Our Writers are not registered investment advisors. You should not make any kind of investment decision in relation to Articles or stocks discussed in them without obtaining advice from a registered investment advisor.

Facts relied upon by our Writers are generally provided by the subject companies or gathered by our Writers from other public and/or private sources. These facts may be in error and if so, the opinions of our Writers may be materially different.

Writers may own, buy, or sell shares in public companies mentioned in their Articles, but in the Article they must prominently state their ownership position. Thus, a conflict may exist. Writers are not permitted to write Articles that attempt to benefit persons connected to the Writer, such as family or friends, except where disclosure is made in the same way as if the Writer him/herself owns stock.

Writers cannot solicit, accept, or agree to receive anything of value given or paid with the intent of influencing their Articles.

Stockhouse notifies each Writer about these rules, and we rely on the integrity of our Writers to ensure that our rules are followed.