Stockhouse Canadian Small and Micro-cap Stock Report for Friday, August 26, 2011
TORONTO (SHfn) – Donnybrook Energy (TSX: V.DEI, Stock Forum) shares climbed 18% to 46 cents on Friday after the oil and gas producer/explorer reported that the Donnybrook operated Bigstone DEI Hz 3-29 horizontal well spud today. Donnybrook is paying 25% of the DEI Hz 3-29 well costs (drill, complete, equip, and tie-in) and will retain a 25% working interest and a 10% GORR on a 75% working interest before payout, and a 50% working interest after payout in the DEI Hz 3-29 well and in the balance of the 7 section block at Bigstone, Alberta. The DEI Hz 3-29 well is located within eight kilometers of a recently announced 3,200 meter horizontal liquids rich natural gas Montney well that after clean-up reportedly flowed on test over the last day at an average rate of 13.1 MMCF of natural gas and 650 barrels of crude oil and NGLs per day (2,800 boe per day).
As well, shares of Hathor Exploration (TSX: T.HAT, Stock Forum) added 45% at $3.88 as Cameco (TSX: T.CCO, Stock Forum) said it intends to make an offer to acquire all of the outstanding shares of Hathor for cash consideration of $3.75 per share in a transaction that values the fully-diluted share capital of Hathor at approximately $520 million.
Gold World Resources (TSX: V.GDW, Stock Forum), meanwhile, reported that the earlier commissioned NI43-101 Technical Report for its Mount Anderson Yukon Project is nearing completion. The company also reported the completion of a high resolution, helicopter-borne magnetic and radiometric survey over the 2592 hectare property. Gold World stock popped 11% to 10 cents.
Shares of Taseko Mines (TSX: T.TKO, Stock Forum) surged 17% to $3.79 after the Canadian Environmental Assessment Agency has formally accepted Taseko’s project description for its proposed $1 billion New Prosperity gold-copper mine in British Columbia's central interior.
And, Ithaca Energy (TSX: V.IAE, Stock Forum) Friday and its wholly-owned subsidiary Ithaca Energy (UK) Limited announced that further to announcements on April 4, 2011 and May 16, 2011, the company has completed the transaction to acquire a 28.46% non-operated interest in the Cook oil field from Hess Limited. At completion of the transaction, Ithaca paid an adjusted cash consideration of US$57 million and transferred to Hess a 10% interest in three Southern North Sea exploration blocks. Ithaca shares rose as much as12% to $2.13.
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