Africa Hydrocarbons (V.NFK) rallies 28% on Tunisia exploration update

Peter Kennedy Peter Kennedy, Stockhouse
0 Comments| January 3, 2014

Stockhouse Canadian Small and Micro-cap Stock Report for Friday, Janurary 3rd, 2014 

TORONTO (SHfn) –  Africa Hydrocarbons Inc. (TSX: V.NFK, Stock Forum) rose 28% Friday to 16 cents after the company released an operational update on its BHN-1 exploration well on the Bouhajla Permit in northeastern Tunisia.  As previously announced, the company utilized a wireline-conveyed borehole imaging tool to investigate the effectiveness of the initial perforation operation. 

The operator completed this operation and upon review of the results, planning for the re-perforation of the well within the Abiod formation is underway. Timing of this operation will be announced as soon as costs, logistics and sourcing of the equipment are finalized. At this time, the company believes the potential for yielding an Abiod discovery at BHN-1 remains unchanged the company said.

Transgaming Inc. (TSX: V.TNG, Stock Forum) jumped 2.6% to 19.5 cents after the company said Friday it will demonstrate the future of cloud gaming with its GrameTree TV video game platform from next week during the 2014 International CES conference in Las Vegas, Nevada.
Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Metalex Ventures Ltd. (V.MTX, Stock Forum) 76.47%
Africa Hydrocarbons Inc. (V.NFK, Stock Forum) 28.00%
LED Medical Diagnostics Inc. (V.LMD, Stock Forum) 27.63%
Xmet Inc. (V.XME, Stock Forum) 26.92%
Colossus Minerals Inc. (T.CSI, Stock Forum) 20.00%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Mason Graphite Inc. (V.LLG, Stock Forum) -11.24%
Sierra Wireless, Inc. (T.SW, Stock Forum) -4.93%
Niko Resources Ltd. (T.NKO, Stock Forum) -4.82%
Continental Gold Limited (T.CNL, Stock Forum) -3.14%
Horizons BetaPro NYMEX Crude Oil Bull Plus ETF (T.HOU, Stock Forum) -2.52%

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