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Energy junior surges on oil flow outperformance

11/19/2012 5:16:09 PM | Sean Mason

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This as a fiber optic play shone brightly following a distribution deal Monday

Stockhouse Canadian Small and Micro-cap Stock Report for Monday, November 19, 2012

TORONTO (SHfn) – WesternZagros Resources (TSX: V.WZR, Stock Forum) shares jumped 16% to $1.29 on volume of more than 4.5 million shares Monday after the oil and gas producer/explorer reported that it has successfully completed the first of three planned cased-hole tests in the Oligocene Formation of the Kurdamir-2 well in the Kurdistan Region of Iraq. Flow rates of up to 3,450 barrels per day of light oil were achieved from the 20-metre perforated interval, which exceeded company expectations.

As well, shares of Opsens (TSX: V.OPS, Stock Forum) shot up 37% to 26 cents as the developer of fiber optic solutions said it has granted distribution and other rights for its OptoWire and OptoMonitor products for measuring Fractional Flow Reserve (FFR) to a Japanese-based medical company in return for US$2 million plus an additional $1 million once Opsens gets regulatory approval for its FFR devices in Japan.

C&C Energia (TSX: T.CZE, Stock Forum), meanwhile, announced that it will be acquired by Pacific Rubiales Energy (TSX: T.PRE, Stock Forum) in exchange for 0.3528 common shares of Pacific Rubiales, cash consideration of $0.001 and one common share of a new Colombia focused junior exploration company. C&C Energia stock popped 18% to $8.85 on more than 3.9 million shares traded.

And, Rift Basin Resources (TSX: V.RIF, Stock Forum) late Friday said it has established a strategic alliance with Gulfsands Petroleum plc for the purpose of acquiring petroleum projects in Tunisia and elsewhere in the Middle East and North Africa region. Rift Basin Resources shares rose 18% to 13 cents on Monday.

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Lund Gold Ltd. (V.LGD, Stock Forum)	50.00%
Canada Strategic Metals Inc. (V.CJC, Stock Forum)	41.18%
OPSENS Inc. (V.OPS, Stock Forum)	36.84%
Avcorp Industries Inc. (T.AVP, Stock Forum)	33.33%
Mindoro Resources Ltd. (V.MIO, Stock Forum)	33.33%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Cascade Resources Ltd. (V.CC, Stock Forum)	-50.00%
Semcan Inc. (V.STT, Stock Forum)	-42.31%
WCB Resources Ltd. (V.WCB, Stock Forum)	-35.00%
Hanwei Energy Services Corp. (T.HE, Stock Forum)	-33.33%
Midlands Minerals Corporation (V.MEX, Stock Forum)	-33.33%

ABOUT THE AUTHOR

Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

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