Spartan Energy Corp. (TSX: SPE) shares jumped more than 9% to top this month’s Ubika Energy 20 Report, this while the WTI crude price slid more than 20% in December. The Calgary-based oil and gas company with oil focused horizontal drilling opportunities in Alberta and Saskatchewan announced in mid-November that it was increasing its 2014 exit guidance and vows to continue to grow production while maintaining low Debt to Cash Flow ratios.
Key Findings for the week:
- Our top performer for the month was Spartan Energy Corp. (TSX:SPE) which jumped 9.7% (price). The gain was primarily due to the base effect as the stock price was trading near its 52-week low on price as on Nov 28, 2014 (last month’s UE 20 publication date). As a result, a slight gain in price translated into a 9% gain.
- Cardinal Energy Ltd (TSX: CJ) was our top market cap gainer so far in 2014 increasing almost 177%.
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