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Junior energy stock jumps on oil flow results

11/16/2012 5:15:06 PM | Sean Mason

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While takeover talk propelled shares of a wind power play Friday

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, November 16, 2012

TORONTO (SHfn) – Petroamerica Oil (TSX: V.PTA, Stock Forum) shares climbed 13% to 30.5 cents on volume of more than 7.5 million shares Friday after the oil and gas producer/explorer reported results of ongoing testing operations at its Las Maracas-5 well in Colombia, which flowed approximately 3,700 barrels of oil per day from the middle Gacheta sand only.

As well, shares of Finavera Wind Energy (TSX: V.FVR, Stock Forum) gained 31% to 36 cents as the wind farms operator said it is in advanced negotiations with four prospective companies, which will likely result in either a takeover of Finavera or a partnership to advance Finavera’s projects. The company anticipates the selection of a lead offer and the subsequent announcement of a binding deal in short order.

Swisher Hygiene (TSX: T.SWI, Stock Forum), meanwhile, reported that it has completed the sale of its Choice Environmental Services subsidiary to Waste Services of Florida, a subsidiary of Progressive Waste Solutions, for approximately $123.3 million in cash. Swisher Hygiene stock shot up 23% to $1.41.

And, Sterling Resources (TSX: V.SLG, Stock Forum) late Thursday announced that it has decided not to proceed with its previously announced marketed offering of common shares in the capital of the company, which was to expected to raise up to $45 million. Sterling Resources shares rose 16% to 86 cents on Friday.

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Colibri Resource Corporation (V.CBI, Stock Forum)	60.00%
Halo Resources Ltd. (V.HLO, Stock Forum)	57.14%
Stroud Resources Ltd. (V.SDR, Stock Forum)	50.00%
MGold Resources Inc. (V.MNI, Stock Forum)	33.33%
Finavera Wind Energy Inc. (V.FVR, Stock Forum)	30.91%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Vast Exploration Inc. (V.VST, Stock Forum)	-50.00%
Canasia Industries Corporation (V.CAJ, Stock Forum)	-40.00%
Zone Resources Inc. (V.ZNR, Stock Forum)	-33.33%
Atocha Resources Inc. (V.ATT, Stock Forum)	-33.33%
Petroforte International Ltd. (V.PFI, Stock Forum)	-28.57%

ABOUT THE AUTHOR

Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

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