Petro One Energy Corp (TSXV: POP), a junior oil & gas explorer, witnessed a strong upward share price momentum after climbing more than 160% in the past one month. We note that the stock gained more than 10% touching its 52-week highs during each of the past two consecutive trading sessions with significant number of shares exchanging hands. During the last trading session, POP was among the top performers in the Canadian energy space after gaining 9.7% and ended at its 52-week high of C$0.79 while recording significant volumes of 997,441 shares. During the past 5-trading sessions, POP rallied 29.5% while recording daily average trading volumes of 475,926 shares compared to the past one month daily average trading volume of 556,026 shares. We note that the stock is up 193% year-to-date. Last month, POP increased its C$4 million private placement announced on July 28, 2014 by C$2 million after a strong institutional demand.
Company Description:
Petro One Energy Corp (TSXV: POP) acquires, explores, and develops oil and gas properties. The Company’s focus is to acquire, explore & develop undervalued oil assets in Canada with close proximity to infrastructure and existing production.
1-Year Stock Chart:
Source: Bloomberg
