Energy Junior Gushes on Gas Discovery

Touchstone Exploration Inc. (TSX:TXP), an energy junior, powered up after announcing test results from the Cascadura-1ST1 well

Sean Mason | February 6, 2020 | SmallCapPower

A liquids-rich natural gas discovery caught the attention of more than a few energy junior speculators Thursday. Here’s some small stocks making big moves on Thursday, February 6, 2020 (as of 4 pm EST):

Touchstone Exploration Inc. (TSX:TXP) shares surged 29% to $0.67 on Thursday after the energy junior announced that flowback testing of the first stage of the Cascadura-1ST1 well onshore in the Republic of Trinidad and Tobago has been completed, with the average flowback rate during the final 14-hour test period of 5,180 barrels of oil equivalent per day, including 27.1 million cubic feet per day of natural gas and 660 barrels per day of natural gas liquids. The Company believes the well is a “significant liquids-rich natural gas discovery.”

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As well, shares of Razor Energy Corp. (TSXV:RZE) sank 33% to $0.495 as the junior oil and gas development and production company said it has decided to suspend its dividend payments effective February 2020, citing significant price volatility for crude products in the Canadian energy sector.

Zenabis Global Inc. (TSX:ZENA), meanwhile, reported that December 2019 delivered the Company’s largest-ever harvest, with monthly harvest yields at its Atholville facility rising by 800% during 2019. Zenabis Global stock moved up 4% to $0.125 following the announcement.

Finally, SEMAFO Inc. (TSX:SMF) shares climbed 9% to $3.03 after the gold miner announced that it expects 2020 production at its Boungou mine in Burkina Faso to reach between 42,000 and 46,000 ounces at an AISC of between US$530 and $560 per ounce.

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

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