Shares of Exall Energy Corp (TSX: EE), engaged in the exploration, production and development of oil and gas assets in the prolific Western Canadian Sedimentary Basin, in Alberta, recorded over 20.0% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. During the last trading session, EE gained 33.3% and closed at C$0.04, while recording significant trading volumes of 371,300 shares. Recently, EE announced that it has signed a non-binding letter of intent with Viking Investments Group, Inc. (OTCQB: VKIN), pursuant to which Viking expressed interest in loaning EE up to C$35.0 million to enable EE to repay its indebtedness to the Alberta Treasury Branches, EE’s primary lender. During the past 5-trading sessions, EE gained 60.0% with daily average trading volumes of 103,987 shares, while there has been no gain during the past one month as the prices remained same with daily average trading volumes of 63,932 shares.
Company Description:
Exall Energy Corporation (TSX: EE) acquires, explores, and produces oil and gas. The company owns interests in the Western Canadian Sedimentary Basin, particularly in Alberta and British Columbia.
1-Year Stock Chart:
Source: Bloomberg
