The Ubika Energy 20 (UE20) declined 9.4% for the month but outperformed the WTI Crude price, which slid 17.6%. Five of the component companies finished in positive territory, though, including one with a 9% gain.
Key Findings for the week:
- TAG Oil Ltd. was the only company to make positive gains this month from the UE20 index, as it was given a 5-year extension for its Canterbury Basin exploration permit.
- Ikkuma Resources Corp. was the biggest decliner, with a 43.5% drop in price as slumping oil prices and a capital budget reduction were all factors for investors’ sentiment.
- Apart from Tamarack, the other four TSX-V listed stocks have lost 35.7% in value over the last month.
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