Junior energy stock pops on gas development deal

Stockhouse Canadian Small and Micro-cap Stock Report for Monday, December 21, 2009

TORONTO (SHfn) – A big natural gas bet sparked much speculation Monday, while a small energy stock surged on a production jump.

Thunderbird Energy (TSX: V.TBD, Stock Forum) shares climbed 30% to 13 cents on Monday after the energy junior said it has entered into two agreements with independent third parties to invest up to US$40 million to further develop Thunderbird's Gordon Creek natural gas property in Utah. Thunderbird will manage all field operations to be conducted under both agreements.

As well, shares of Canadian Superior Energy (TSX: T.SNG, Stock Forum) moved up 14% to 67 cents as the oil and gas explorer/producer announced that daily average production in western Canada for the week ending December 2, 2009, is approximately 3,112 boe/d, an increase of about 410 boe/d, or 13%, from the third quarter 2009 daily average production.

Conquest Resources (TSX: V.CQR, Stock Forum), meanwhile, reported further assay results Friday from its 100% owned Alexander Gold Project in the Red Lake gold camp of northwestern Ontario. The company was successful in intersecting gold mineralization in all six holes, which included 7.76 grams per tonne (g/t) gold over one metre. Conquest stock popped 18% to 23.5 cents on Monday.

Shares of CoolBrands International (TSX: T.COB, Stock Forum) surged 14% to $1.16 after the company and the other defendants entered into a settlement agreement with Capricorn relating to this lawsuit and all related and/or potential related claims. Under the terms of the settlement, CoolBrands has agreed to pay Capricorn US$1.05 million, 50% of which will be contributed by CoolBrands' insurer.

And, Pediment Gold (TSX: T.PEZ, Stock Forum) late Friday said it has completed a report titled "Technical Report and Resource Update, San Antonio Gold Project, Baja California Sur" in Mexico dated November 29, 2009. Its shares added as much as 10% at $1.48 on Monday.