Energy Junior Rises on Oil Field Update

Bengal Energy Ltd. (TSX:BNG), an energy junior, jumped after announcing an improvement in overall sales revenue

Sean Mason | June 26, 2019 | SmallCapPower

Strong netbacks and improving revenue pumped up shares of an energy junior Wednesday. Here’s some small stocks making big moves on Wednesday, June 26, 2019 (as of 4 pm EST):

Bengal Energy Ltd. (TSX:BNG) shares climbed 33% to $0.08 on Wednesday after the energy junior announced that it saw overall improved sales revenue in fiscal 2019 from the Company’s core light oil field in the Cooper Basin, Australia, in addition to what it called “very strong netbacks” of $53.16, which it says continues to support positive cash flow.

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As well, shares of Galaxy Digital Holdings Ltd. (TSXV:GLXY) gained 13% to $2.42 as the blockchain technology company said it has appointed Christopher Ferraro as Company President. Mr. Ferraro is the former Managing Director and Partner at HPS Investments Partners (Highbridge Principal Strategies).

Acasti Pharma Inc. (TSXV:ACST), meanwhile, reported that its ongoing Phase 3 clinical trials remain on schedule and within budget, and the Company remains on track to report topline results for its primary endpoint of lowering triglycerides for TRILOGY 1 in December 2019, and for TRILOGY 2 in January 2020. Acasti Pharma stock moved up 8% to $1.53 following the announcement.

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

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