While production results boosted an oil and gas small cap Friday
Stockhouse Canadian Small and Micro-cap Stock Report for Friday, January 4, 2012
TORONTO (SHfn) – Dundee Energy (TSX: T.DEN, Stock Forum) shares jumped 42% to 44 cents on Friday after the oil and natural gas company announced that the Spanish authorities approved a Ministerial Order affecting payments relating to underground natural gas storage projects, which would apply to Dundee’s 24.6% interest in Escal UGS SL, the owner of the Castor Underground Gas Storage Project. Among other highlights, Escal will receive a return on its capital investment at a rate of 8.76% per annum on any unpaid balances.
As well, shares of Calvalley Petroleum (TSX: T.CVI.A, Stock Forum) moved up as much as 10% before closing down 1% to $1.66 as the energy junior said its average gross crude oil production volumes for the fourth quarter of 2012 are estimated to be approximately 5,700 barrels per day (bpd), up from 4,700 bpd in the third quarter.
Olivut Resources (TSX: V.OLV, Stock Forum), meanwhile, reported that its 2012 HOAM exploration program in Northwest Territories resulted in the discovery of one new kimberlite from 11 holes drilled to test nine geophysical targets. Saskatchewan Research Council, however, reported there were no diamonds from 245 kilograms of kimberlite core submitted for caustic fusion analysis. Olivut Resources stock slipped 2% to 60 cents.
|Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
|Vuzix Corporation (V.VZX, Stock Forum)
|Amador Gold Corp. (V.AGX, Stock Forum)
|North Arrow Minerals Inc. (V.NAR, Stock Forum)
|Dundee Energy Limited (T.DEN, Stock Forum)
|Intertainment Media Inc. (V.INT, Stock Forum)
|Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
|BlueScout Technologies Ltd. (V.SCT, Stock Forum)
|DynaCERT Inc. (V.DYA, Stock Forum)
|Alliance Mining Corp. (V.ALM, Stock Forum)
|Vulcan Minerals Inc. (V.VUL, Stock Forum)
|White Tiger Gold Ltd. (T.WTG, Stock Forum)