An offshore gas condensate discovery sparked buying interest in shares of an oil and gas junior Thursday. Here’s some small stocks making big moves on Thursday, February 7, 2019 (as of 4 pm EST):
Africa Energy Corp. (TSXV:AFE) shares jumped 26% to $0.29 on Thursday after the oil and gas junior announced a “significant” gas condensate discovery on the Brulpadda prospects located on Block 11B/12B offshore South Africa. Africa Energy holds a 4.9% effective interest in the Exploration Right for Block 11B/12B.
As well, shares of Auxly Cannabis Group Inc. (TSXV:XLY) eased 7% to $0.84 as the cannabis company said it has terminated its joint venture with a wholly-owned subsidiary of FSD Pharma Inc. (CSE:HUGE).
Héroux-Devtek Inc. (TSX:HRX), meanwhile, reported that its third-quarter sales surged 49% to $144.5 million, while operating income for the quarter increased 79.6% to $11.9 million. Héroux-Devtek stock moved up 10% to $13.98 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Africa Energy Corp. (TSXV:AFE) shares jumped 26% to $0.29 on Thursday after the oil and gas junior announced a “significant” gas condensate discovery on the Brulpadda prospects located on Block 11B/12B offshore South Africa. Africa Energy holds a 4.9% effective interest in the Exploration Right for Block 11B/12B.
