A Colombia farm out agreement sparked much speculation in an energy junior Friday. Here’s some small stocks making big moves on Friday, June 22, 2018 (as of 4 pm EST):
PentaNova Energy Corp. (TSXV:PNO) shares shot up 89% to $0.085 on Friday after the energy junior announced the signing of a Farm Out Agreement with Panacol Oil & Gas, in which Panacol will fully fund PentaNova’s commitments during the first phase of the SN-9 Exploration and Production Contract for the amount of US$22.29 million, which will give Panacol the right to earn up to a 40% economic beneficial interest in the SN-9 gas block in Colombia.
As well, shares of Crosswinds Holdings Inc. (TSX:CWI) gained 14% to $2.01 as the private equity firm and asset manager said its Board has determined that it is in the best interests of Crosswinds to distribute all of its available capital to shareholders and dissolve the Company.
LiveWell Canada Corp. (TSXV:LVWL) stock, meanwhile, continued to move higher Friday, up 24% to $1.84 following its stock market debut on Thursday. LiveWell Canada is conducting advanced research on cannabidiol (CBD) and other cannabinoids.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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PentaNova Energy Corp. (TSXV:PNO) shares shot up 89% to $0.085 on Friday after the energy junior announced the signing of a Farm Out Agreement with Panacol Oil & Gas, in which Panacol will fully fund PentaNova’s commitments during the first phase of the SN-9 Exploration and Production Contract for the amount of US$22.29 million, which will give Panacol the right to earn up to a 40% economic beneficial interest in the SN-9 gas block in Colombia.
