SEARCH
Subscribe
Track all markets on TradingView

Energy Services Stock Pops on Contract Expansion

Published:

Reading time: 4 min.

Wavefront Technology Solutions Inc. (TSXV:WEE), an energy services stock, surged after announcing the  stimulation campaign in Saudi Arabia has been expanded

Sean Mason | January 24, 2018 | SmallCapPower

Significant news from the Middle East pumped up an energy services stock Wednesday. Here’s some small stocks making big moves on Wednesday, January 24, 2018 (as of 4 pm EST):

Wavefront Technology Solutions Inc. (TSXV:WEE), an energy services stock, powered 36% higher to $0.395 on Wednesday after announcing that the original seven well Powerwave Odyssey custom stimulation campaign in the Kingdom of Saudi Arabia announced on December 13, 2017, having an approximate value of US$250,000, has now been expanded to 12 wells. Wavefront Technology is a provider of fluid injection technology for oil and gas well stimulation and Improved/Enhanced oil recovery.

Win Big With Our Small Cap Picks

 

As well, shares of CanniMed Therapeutics Inc. (TSX:CMED) shot up 12% to $41.90 as the medical cannabis company said it has agreed to Aurora Cannabis Inc.’s (TSX:ACB) revised takeover offer. The new cash-and-stock offer equates to $43 per CanniMed Therapeutics share, a 79% increase from the original $24 a share bid from Aurora Cannabis.

Condor Petroleum Inc. (TSX:CPI), meanwhile, reported that commercial production has begun at its 100% owned and operated Poyraz Ridge natural gas field in Turkey. Condor’s total production is currently ranging from 1,600 to 1,700 boepd, an increase of more than four times the 2017 average of approximately 400 bopd from the Company’s oilfields in Kazakhstan. Condor Petroleum stock flew 10% higher to $0.66 following the announcement.

Finally, HIT Technologies Inc. (TSXV:HIT) shares jumped 300% to $0.10 after the distributor of lifestyle brand HITCASE announced the availability of the company’s products through Best Buy USA’s online portal at BestBuy.com and on the Best Buy mobile App for Apple and Android.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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

To read our full disclosure, please click on the button below:

The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
jsteppke
jsteppke

Related articles

Recent articles

© SmallCapPower 2024