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Energy junior sinks 30% on operations warning

11/15/2012 5:25:49 PM | Sean Mason

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This as record sales lifted a small pharmaceutical stock Thursday

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, November 15, 2012

TORONTO (SHfn) – Second Wave Petroleum (TSX: T.SCS, Stock Forum) shares fell 30% to 58 cents on volume of more than 3.7 million shares Thursday after the oil and gas producer reported that it has reduced its 2012 production guidance due to continued weakness in commodity pricing and production delays.

As well, shares of BioSyent (TSX: V.RX, Stock Forum) shot up 15% to $1.01 as the specialty pharmaceutical firm announced a 60% increase in third-quarter sales to $1,575,598, an all-time quarterly record for the company.

Mart Resources (TSX: V.MMT, Stock Forum), meanwhile, said it was informed of leakages on its export pipeline, causing the operator to temporarily close the pipeline on October 30, 2012. Mart Resources shares slipped 10% to $1.50 on more than 4.1 million shares traded.

And, Condor Petroleum (TSX: T.CPI, Stock Forum) late Wednesday reported that the trial production period for its wells at the Shoba oil field in Kazakhstan is expected to continue until mid-2014 and then transition into the development period with forecasted peak production in excess of 1,500 bopd. Production from Shoba is currently 400 bopd and is expected to increase as additional wells are brought on-line and treating facilities are optimized. Condor Petroleum shares added 10% at 32 cents on Thursday.

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Auramex Resource Corp. (V.AUX, Stock Forum)	140.00%
Dunav Resources Ltd. (V.DNV, Stock Forum)	86.36%
Alpha Gold Corp. (V.ALQ, Stock Forum)	75.00%
Intensity Company Inc. (V.ITT, Stock Forum)	56.25%
Terrax Minerals Inc. (V.TXR, Stock Forum)	40.00%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Poseidon Concepts Corp. (T.PSN, Stock Forum)	-62.18%
Vast Exploration Inc. (V.VST, Stock Forum)	-33.33%
Second Wave Petroleum Inc. (T.SCS, Stock Forum)	-30.12%
Foundation Resources Inc. (V.FDN, Stock Forum)	-29.41%
Satori Resources Inc. (V.BUD, Stock Forum)	-28.57%

ABOUT THE AUTHOR

Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

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