Canadian Energy Junior Gushes on Well Test Results

Valeura Energy Inc. (TSX:VLE), a Canadian energy junior, jumped after announcing interim natural gas production test information for the Devepinar-1 well

Sean Mason | November 29, 2019 | SmallCapPower

Notable natural gas flow pumped up shares of a Canadian energy junior Friday. Here’s some small stocks making big moves on Friday, November 29, 2019 (as of 4 pm EST):

Valeura Energy Inc. (TSX:VLE) shares surged 37% to $1.29 on Friday after the Canadian energy junior announced interim natural gas production test information for Test #1 in the Devepinar-1 well in the Thrace Basin of Turkey, in which individual flow rates based on the last 24 hour flowing period were 1.6 mmcf/d, 1.3 mmcf/d, and 1.3 mmcf/d from the deepest to the shallowest interval, respectively.

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As well, shares of Great Panther Mining Limited (TSX:GPR) slipped 14% to $0.56 as the precious metals miner said it is revising its fourth-quarter production guidance for its Tucano Gold Mine in Brazil to between 31,000 and 33,000 ounces of gold, down from 39,000 to 44,000 ounces.

dynaCERT Inc. (TSXV:DYA), meanwhile, reported that Eric Sprott has invested $14 million in the Company via an arm’s length equity offering at a price of $0.50 per unit, which now gives Mr. Sprott a 9.12% equity stake in dynaCERT. dynaCERT stock moved up 5% to $0.50 following the announcement.

Finally, Mobi724 Global Solutions Inc. (TSXV:MOS) shares rose 40% to $0.035 after the fintech company announced that its third-quarter revenue rose 144% to $342,000, while its net burn rate for the period fell by 42% to $223,000.

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

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