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Oil and Gas Stock Gushes on Well Test Results

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Valeura Energy Inc. (TSE:VLE), an oil and gas stock, surged after announcing interim production test results at the Yamalik-1 exploration well in Turkey

Sean Mason | November 27, 2017 | SmallCapPower

A discovery announcement in Turkey boosted a Canada-listed oil and gas stock Monday. Here’s some small stocks making big moves on Monday, November 27, 2017 (as of 4 pm EST):

Valeura Energy Inc. (TSX:VLE), an oil and gas stock, powered 43% higher to $1.13 on Monday after announcing interim production test results at the Yamalik-1 exploration well in Turkey, which over the final 24 hours of the test was producing at an average restricted rate of approximately 0.8 million cubic feet per day of natural gas and 60 to 70 barrels per day of 56o API gravity condensate (70 to 80 barrels per MMcf).

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As well, shares of Verde AgriTech Plc (TSX:NPK) surged 68% to $1.06 as the fertilizer project developer revealed Pre-Feasibility Study results for the expansions to the ongoing Super Greensand production in Brazil. Highlights included an estimated after-tax Net Present Value for the Project, using an 8% discount rate, of US$1.98 billion, as well as an estimated US$3.05 million Capex for Phase 1.

Kalytera Therapeutics, Inc. (TSXV:KALY), meanwhile, reported that it has received a Notice of Allowance from the United States Patent and Trademark Office for a second patent covering the use of cannabidiol in the prevention and treatment of graft versus host disease. Kalytera Therapeutics stock popped 35% to $0.155 following the announcement.

Finally, Cuba Ventures Corp. (TSXV:CUV) shares jumped 44% to $0.165 after the provider of services related to Cuba travel and tourism announced that it has signed a definitive agreement with Vesilen Investments for use of its Blockchain-based mobile application called Revolupay and corresponding web-based system to target Cuba’s US$3.4 billion remittance market, the US$750 million Cuban private sector and Caribbean tourism industry.

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Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.

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