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Crown Point Energy (V.CWV) up 29% on potential oil discovery

Stockhouse Editorial
0 Comments| February 12, 2014

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Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, February 12, 2014 VANCOUVER (SHfn) –

Crown Point Energy Inc. (TSX: V.CWV, Stock Forum) gained 29% to 58 cents as investors assessed the news the oil and gas company has drilled, logged, cased and rig released the La Hoyada x-1 exploration well as a potential Vaca Muerta oil discovery on the Cerro de los Leones Concession in the Neuquén Basin, Province of Mendoza, Argentina. The La Hoyada x-1 well was drilled to a total depth of 1,953 meters and encountered persistent oil shows and gas while drilling through the Vaca Muerta formation, which consisted of 125 meters of shale and 84 meters of imbedded fractured igneous intrusives.

Eagle Hill Exploration Corp. (TSX: V.EAG, Stock Forum) gained 5.9% to nine cents before closing unchanged at 8.5 cents after releasing the final assay results from its fall 2013 drill program at the Windfall Lake gold project. Eagle Hill completed a total of 28,107 metres of diamond drilling in 78 holes between September 12 and Dec. 20, 2013, with the objective of expanding the known mineral resource. Highlights of the latest assay results included over 1.0 metre of 16.7 grams per tonne gold, over 0.4 of a metre grading 28.7 grams per tonne gold and 0.9 of a metre at 9.1 grams per tonne gold.

Banro Corp. (TSX: T.BAA, Stock Forum) slipped 7.1% to 66 cents after reporting that it intends to raise US$40 million through the issue of convertible preferred shares by way of a non-brokered private placement. The company has received a non-binding commitment from Gramercy Funds Management LLC to subscribe for the full amount of the private placement, although certain other investors may participate for up to US$15 million of the private placement. The net proceeds are expected to be used for general corporate purposes, including to repay certain bank loans.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Verde Potash Plc (T.NPK, Stock Forum) 54.93%
Crown Point Energy Inc. (V.CWV, Stock Forum) 28.89%
Sphere 3D Corp. (V.ANY, Stock Forum) 10.21%
Copper Mountain Mining Corp. (T.CUM, Stock Forum) 5.95%
Delphi Energy Corp. (T.DEE, Stock Forum) 5.73%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Darwin Resources Corp. (V.DAR, Stock Forum) -29.41%
Sprylogics International Corp. (V.SPY, Stock Forum) -15.62%
North American Palladium Inc. (T.PDL, Stock Forum) -11.69%
Santacruz Silver Mining Ltd. (V.SCZ, Stock Forum) -11.57%
Dynacor Gold Mines Inc. (T.DNG, Stock Forum) -9.24%



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