Oil and Gas Junior Gushes on Prospect Update

CruzSur Energy Corp. (TSXV:CZR), an oil and gas junior, jumped after announcing a US$22 million phased development program at Sinu-9

Sean Mason | August 2, 2019 | SmallCapPower

A new development concerning a Colombian natural gas prospect propelled shares of an oil and gas junior Friday. Here’s some small stocks making big moves on Friday, August 2, 2019 (as of 4 pm EST):

CruzSur Energy Corp. (TSXV:CZR) shares powered 30% higher to $0.45 on Friday after the oil and gas junior announced that it has begun a US$22 million phased development program at Sinu-9, which the Company called “a high-priority Colombian natural gas prospect.”

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As well, shares of Horizon North Logistics Inc. (TSX:HNL) slipped 17% to $1.34 as the provider of industrial, commercial, and residential products and services said its Q2 total loss widened to $10.6 million from a $3.4 million loss during the same period last year.

Aphria Inc. (TSX:APHA), meanwhile, reported fourth-quarter net revenue that soared 969% year over year and 75% quarter over quarter. The Company also generated $15.8 million in net income during Q4. Aphria stock popped 40% to $9.67 following the announcement.

Finally, Bearing Lithium Corp. (TSXV:BRZ) shares continued to move higher Friday, up 35% to $0.325 following a 33% gain on Thursday, after the lithium junior announced that the joint venture company Minera Salar Blanco S.A., in which Bearing holds an 18% interest, has entered into a non-binding Memorandum of Understanding with the Chilean State-owned mining company, CODELCO, to form a new joint venture allowing for the development of the Maricunga Salar, a lithium brine project.

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

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