Oil and Gas Junior Gushes on Resource Evaluation

    Valeura Energy Inc. (TSX:VLE), an oil and gas junior, surged after announcing results of an independent evaluation of its prospective resources in the Thrace Basin of Turkey

    Sean Mason | February 7, 2018 | SmallCapPower

    A large prospective natural gas resource fired up shares of an oil and gas junior Wednesday. Here’s some small stocks making big moves on Wednesday, February 7, 2018 (as of 4 pm EST):

    Valeura Energy Inc. (TSX:VLE) shares powered as much as 37% higher before ending the day up 4% at $6.27 on Wednesday after the oil and gas junior announced that it has received summary results of an independent evaluation of its prospective resources in the Thrace Basin of Turkey, which showed 10.1 Tcf of estimated working interest unrisked mean prospective resources of natural gas, which includes 236 MMbbl of condensate.

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    As well, shares of Mawson Resources Limited (TSX:MAW) climbed 30% to $0.56 as the gold project developer said Goldcorp has made an C$8.1 million strategic investment in Mawson through a private placement at $0.45 per unit. Upon closing, Goldcorp will own approximately 12.7% of the issued and outstanding shares of Mawson on a non-diluted basis.

    Spearmint Resources Inc. (TSXV:SRJ), meanwhile, reported that it has received a drill permit for its 100% owned Clayton Valley lithium prospect in Nevada. Spearmint Resources stock moved up 20% to $0.09 following the announcement.

    Finally, VitalHub Corp. (TSXV:VHI) shares jumped 17% to $0.14 after the SaaS-based healthcare applications provider announced the introduction of WellLinc, a proprietary electronic health record interoperability solution powered by Blockchain technology.

    To find out more about VitalHub Inc., please visit the company’s Investor Hub.

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    Ubika Research/SmallCapPower has received compensation from VitalHub to provide analyst research coverage. For full disclosure please visit here >>.

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    Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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