Sean Mason | November 11, 2015 |
SmallCapPower
Greater
gas output was a good thing for a small energy play Wednesday, while a tech
stock got beat up on a larger loss. Here’s some small stocks making big moves
on Wednesday, November 11, 2015 (as of 4 pm EST):
Painted Pony Petroleum Ltd. (TSX:
PPY) shares jumped 7% to $4.40 on volume of more than 3.4
million shares Wednesday after the developer of natural gas and natural gas
liquids from the Montney formation in British Columbia announced that
its 2016 exit production is expected to exceed 240 MMcfe per day (40,000 boe
per day), a year-over-year increase of 150%.
For more junior oil and gas investing ideas please see the
Ubika Energy 20 reports here >>
As well,
shares of UrtheCast Corp. (TSX:
UR) slid 17% to $1.87 as the developer of the world’s first Ultra HD video
feed of Earth streamed from space said its third-quarter net loss widened to
$0.12 a share from $0.06 during the same period last year.
Mart Resources, Inc. (TSX:
MMT), meanwhile, reported an amendment to its acquisition agreement with Delta
Oil Nigeria B.V. Seeing that most of Mart’s free cash flow is currently being
applied towards servicing bank debt due to the depressed oil price, Delta has
advised that additional bank funding cannot be obtained until there is an
increase in oil price or a change to Mart’s borrowing terms. Accordingly, Delta
will seek alternative sources of funds that will not require debt servicing to
satisfy the Financing Condition. Mart Resources stock dropped 32% to $0.16
following the announcement.
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