Energy Penny Stock Powers Higher on Asset Sale

Penn West Petroleum Ltd. (TSE:PWT), an energy penny stock, shot up on a $975 million deal with Teine Energy Ltd.

Sean Mason | June 13, 2016 | SmallCapPower

Shareholders of an energy penny stock applauded a bit of debt relief Monday, while a potential diamond find sparked much speculation. Here’s some small stocks making big moves on Monday, June 13, 2016 (as of 4 pm EST):

PWT logoPenn West Petroleum Ltd. (TSE:PWT) shares soared 39% to $1.61 on Monday after the energy penny stock announced that it has agreed to sell all of its Saskatchewan assets, including its Dodsland Viking area, to Teine Energy Ltd. for cash consideration of $975 million.

Win Big With Our Small Cap Picks


As well, shares of Sphinx Resources Ltd. (CVE:SFX) jumped 75% to $0.035 as the mineral exploration company said it has acquired a 100% undivided interest in 24 gold/copper claims in the James Bay region of Québec from Les Ressources Tectonic Inc.

Pangolin Diamonds Corp. (CVE:PAN), meanwhile, reported that it has identified a second kimberlite target at its wholly-owned Motloutse Diamond Project in Botswana. Pangolin Diamonds stock moved up 6% to $0.18 following the announcement.

Finally, Wellgreen Platinum Ltd. (TSE:WG) shares rose 17% to $0.315 after the resource project developer announced the appointment of Diane Garrett as its new President and Chief Executive Officer. Ms. Garrett was the former CEO of Romarco Minerals Inc.

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


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.


Win Big With Our Small Cap Picks