Energy Stock Gushes on Assets Acquisition

Athabasca Oil Corporation (TSE:ATH), an energy stock, shot up after agreeing to acquire Statoil Canada’s Canadian Thermal Oil assets

Sean Mason | December 15, 2016 | SmallCapPower

A thermal oil acquisition pumped up an energy stock Thursday. Here’s some small stocks making big moves on Thursday, December 15, 2016 (as of 4 pm EST):

Energy stock Athabasca Oil Corporation (TSE:ATH) powered 23% higher to $1.74 on Thursday after announcing that it has agreed to acquire Statoil Canada’s Canadian Thermal Oil assets for consideration of $435 million cash, 100 million common shares and contingent value payments triggered at oil prices above US$65/bbl WTI.

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As well, shares of CO2 Solutions Inc. (CVE:CST) gained 7% to $0.16 as the provider of enzyme-enabled carbon capture technology said it has been selected by the Bureau de l’efficacité et de l’innovation énergétiques (Technoclimat) to receive $3 million in the form of a non-refundable grant.

Maple Leaf Green World (CVE:MGW), meanwhile, reported that its joint venture partner in California has finished the harvesting of its first two crops. The Company added that the production results were 50% higher than the management’s original expectations of 100 lbs per crop per greenhouse. Maple Leaf Green World stock moved up 11% to $0.475 following the announcement.

In addition, shares of BSM Technologies Inc. (TSE:GPS) climbed 13% to $1.36 as the provider of remote monitoring, fleet management and fleet diagnostics said its fiscal 2016 revenue surged 92% to $59.0 million, with recurring revenue increasing 86% for the year.

Finally, Everton Resources Inc. (CVE:EVR) shares rose 42% to $0.085 after the gold junior announced that it has identified multiple copper-gold targets on its 100% owned Arroyo Carpintero property in the Dominican Republic.

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