Energy junior slips on well disappointment

Sean Mason Sean Mason, Stockhouse
0 Comments| January 25, 2013


Stockhouse Canadian Small and Micro-cap Stock Report for Friday, January 25, 2013 

TORONTO (SHfn) – Petroamerica Oil (TSX: V.PTA, Stock Forum) shares fell 9% to 36 cents on volume of more than 6.2 million shares Friday after the oil and gas junior reported that the Altillo Oeste-1 well on the CPO-1 Block in Colombia has been plugged and abandoned after encountering only minor oil shows in the primary reservoir objective. The company believes that the trap integrity was compromised by the fault not forming an effective seal. Petroamerica holds a 50% participating interest in the CPO-1 Block.

As well, shares of Baja Mining (TSX: T.BAJ, Stock Forum) gained 16% to 11 cents as the resource developer announced that Kores has advanced an additional US$115 million for the continued construction of the Boleo copper-cobalt-zinc-manganese project in Mexico.

Commercial Solutions (TSX: T.CSA, Stock Forum), meanwhile, said it was advised by Industrial Distribution Group that its Board of Directors has decided to withdraw its proposal to acquire Commercial Solutions. Commercial Solutions stock dropped 46% to 67 cents.   

And, Terra Nova Energy (TSX: V.TGC, Stock Forum) Thursday reported that it has identified four drillable exploration prospects on the Mulka Survey in South Australia. Terra Nova has a 20% undivided working interest in the project. Terra Nova Energy shares jumped 21% to 29 cents on Friday.     

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Reef Resources Ltd. (V.REE, Stock Forum) 100.00%
Fortunate Sun Mining Company Ltd. (V.FSM, Stock Forum) 100.00%
Brandenburg Energy Corp. (V.BBM, Stock Forum) 80.00%
Golden Harp Resources Inc. (V.GHR, Stock Forum) 75.00%
Rodinia Oil Corp. (V.ROZ, Stock Forum) 54.55%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Commercial Solutions Inc. (T.CSA, Stock Forum) -46.40%
Northland Resources S.A. (T.NAU, Stock Forum) -43.24%
Pacific Cascade Minerals Inc. (V.PCV, Stock Forum) -37.50%
Murgor Resources Inc. (V.MGR, Stock Forum) -33.33%
MAX Resource Corp. (V.MXR, Stock Forum) -22.73%


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