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Energy junior climbs on joint venture announcement

Sean Mason Sean Mason, Freelance
0 Comments| January 22, 2013


Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, January 22, 2013    

TORONTO (SHfn) – Bellatrix Exploration (TSX: T.BXE, Stock Forum) shares jumped 13% to $4.67 on volume of more than three million shares Tuesday after the oil and gas producer/explorer said it will form a joint venture with a South Korean company to develop its shale deposits in Alberta. Bellatrix added that its unnamed partner will pay $150 million for a 33% working interest in a planned 83-well program.

As well, shares of Questerre Energy (TSX: T.QEC, Stock Forum) rose 7% to 96 cents as the shale oil and gas producer/developer announced that it has increased its landholdings in the Kakwa-Resthaven area of Alberta, which now includes 37,600 gross acres, approximately 60 sections, with a 77% working interest equal to 29,000 net acres or 45 net sections.

Redknee (TSX: T.RKN, Stock Forum), meanwhile, reported that it has been featured in Ovum's On The Radar analyst report. Ovum believes that with "Redknee's commitment to innovation, particularly in cloud enablement, next generation convergence to enhance the customer experience and partner enablement to drive services on the platform, it will secure a stronger position in the market space." Redknee stock moved up 13% to $2.33. 

And, Central Iron Ore (TSX: V.CIO, Stock Forum) Tuesday announced an exploration target of 270,000 to 1.5 million ounces of gold on the Emperor structure at its South Darlot Gold Project in Western Australia. Central Iron Ore shares shot up 183% to 8.5 cents on more than 2.5 million shares traded.     

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Central Iron Ore Limited (V.CIO, Stock Forum) 183.33%
Trio Gold Corp. (V.TGK, Stock Forum) 100.00%
Northcore Technologies Inc. (T.NTI, Stock Forum) 80.00%
iLOOKABOUT Corp. (V.ILA, Stock Forum) 80.00%
Med BioGene Inc. (V.MBI, Stock Forum) 50.00%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Baroyeca Gold & Silver Inc. (V.BGS, Stock Forum) -50.00%
Terra Firma Resources Inc (V.TFR, Stock Forum) -37.50%
Nevada Geothermal Power Inc. (V.NGP, Stock Forum) -33.33%
Yangaroo Inc. (V.YOO, Stock Forum) -30.00%
Amerix Precious Metals Corporation (V.APM, Stock Forum) -29.41%


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