Small
stocks making big moves on Tuesday, January 20, 2015 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
ShaMaran Petroleum Corp. (TSXV: SNM)
shares climbed 10% to $0.115 on Tuesday after the oil and gas
explorer/developer provided an operational update on the Chiya Khere-6 well
(Atrush Phase 2 area appraisal) in the Kurdistan Region of Iraq, which included
one well test that flowed using ESP at rates up to 6,787 bopd.
As well,
shares of Gran Tierra Energy Inc. (TSX: GTE)
sank 32% to $2.84 on volume of more than 7 million shares as the South
American focused oil producer/explorer reported that oil and natural gas
production from continuing operations averaged approximately 25,200 barrels of
oil equivalent per day gross working interest in 2014. The company added that
its Eslabón Sur exploration well in Colombia has been suspended for
further evaluation after drilling indicate only non-commercial hydrocarbons
present in the primary Caballos Reservoir. In addition, its Bretaña Sur
appraisal well in Peru encountered an oil column that was less than what
was estimated by Gran Tierra and the company expects a reduction in Probable
reserves in the field, the magnitude of which is “unknown at the moment.”
Nevado Resources Corporation (TSXV: VDO),
meanwhile, said it has signed a final agreement with Neomet Technologies Inc. to
form a joint venture on the following basis: Nevado – 70%, Neomet – 30%. The
purpose of the joint venture is to develop Nevado’s wholly-owned La Blache titanium-vanadium-iron
property in northern Quebec, or other similar properties to be held by the
joint venture. Nevado Resources stock moved up 25% to $0.025 following the
announcement.
Finally, Gabriel Resources Ltd. (TSX: GBU)
shares surged 14% to $0.74 after the precious metals project developer announced
further steps to initiate positive dialogue with decision makers from within
the Romanian Government and competent regulatory authorities directly
responsible for progress of permitting and authorizing the development of the
Ro?ia Montan? gold and silver mine.
