Shares of Sea Dragon Energy (TSX: V.SDX, Stock Forum) jumped more than 30% in early trade to 36.5 cents. The company announced before the market open that it had successfully completed testing at its Al Amir SE #4 well in the Gemsa concession in Egypt. As well, the company has moved its drilling rig, and begun drilling at its Geyad #2 appraisal well.
Cookster9 reported: “5000 bpd and 7 mmcf of gas. That's a nice hit. Placed on production at 2850. Field is now producing at 7000 bpd. Growing very fast and such a small market cap.”