Stockwatch energy summary todayA different international player had a much happier day. Dr. Sean Guest and Yacine Ben-Meriem's Thailand-focused
Valeura Energy Inc. (
VLE) added 33 cents to $4.95 on a heavier-than-usual 1.23 million shares (and even hit an intraday high of $5 for the first time in nearly two months). It had no news to explain the excitement. It has, however, been hard at work wooing investors and analysts. Over the weekend, it participated in the Schachter "Catch the Energy" Conference in Calgary, subsequently entertaining itself by posting photos on-line and cooing about "great engagement." A few days before that, Stifel analyst David Round did some cooing of his own, launching coverage of Valeura with a lofty price target of $9. (Mandatory disclaimers in the fine print indicate that Valeura is a "client" of Stifel, that Stifel is a "corporate broker and/or adviser" for Valeura, and that Stifel receives compensation from Valeura for various investment banking services.)
As with any high-volume jump in a share price, there are some investors who suspect a news leak. Speculation is now swirling around topics from drilling updates to acquisitions to a long-awaited tax restructuring. Valeura remained mum today, but if nothing else should have plenty to say when it releases its third quarter financials on Nov. 13.