Energy Junior Jumps on Guidance Update

Published:

Sean Mason | February 16, 2016 | SmallCapPower

Gas revenue estimates gave hope to some shareholders Friday, while a partnership agreement boosted a tech play. Here’s some small stocks making big moves on Tuesday, February 16, 2016 (as of 4 pm EST):

CNE logoCanacol Energy Ltd. (TSX: CNE) shares gained 15% to $2.71 on Tuesday after the oil and gas producer/explorer provided preliminary 2016 guidance, saying that it expects revenues from gas sales alone to generate approximately US$163 million during the calendar year.

As well, shares of Breaking Data Corp. (TSXV: BKD) surged 42% to $0.17 as the technology provider of semantic search, machine learning and natural language processing said it has entered into an agreement to forge a strategic partnership with Pacific Disaster Center (PDC) and its software implementation partner, Kontur Labs, to explore the use of Breaking Data’s proprietary NLP technologies toward disaster risk reduction within PDC’s best-in-class product, DisasterAWARE.

See AlphaNorth’s Tina Byers’ insight on Breaking Data Corp. here >>

ShaMaran Petroleum Corp. (TSXV: SNM), meanwhile, reported an increase in the year-end reserves estimate for the Atrush field in the Kurdistan region of Iraq, which showed total oil in place estimates of 1.5 to 2.8 billion barrels, with total field Proven plus Probable reserves on a property gross basis increasing 38% from 61.5 million barrels (MMbbl) to 85.1 MMbbl. ShaMaran Petroleum stock moved up 40% to $0.07 following the announcement.

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