Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, November 15, 2011
TORONTO (SHfn) – Hemisphere Energy (TSX: V.HME, Stock Forum) shares jumped 26% to 82 cents on Tuesday after the oil and gas producer/explorer said it has completed and equipped a new horizontal oil well in the Glauconitic formation on its Jenner property in Alberta. The new 100% owned and operated horizontal well production tested over a 72-hour period at an average rate of 156 barrels-of-oil per day (BOPD).
As well, shares of Tamarack Valley Energy (TSX: V.TVE, Stock Forum) moved up 27% to 38 cents as the energy junior announced that its third well in the Buck Lake area in Alberta located at 4-34-46-6 W5M (75% working interest to Tamarack), was spudded on September 20, 2011, and fracture stimulated on October 18, 2011. The well was placed on production and is flowing at a rate of 627 boe/d consisting of 447 bbls/d (335 net) of oil and natural gas liquids plus 1.08 mmcf/d of gas (810 net) over a seven-day test period.
Bri-Chem (TSX: T.BRY, Stock Forum), meanwhile, reported record third-quarter revenue and EBITDAC of $61.1 million and $6.3 million, respectively. Net earnings for the quarter were $3,961,767, up from $2,347,758 a year earlier. The company is a wholesale distributor and manufacturer of oil and gas drilling fluids, steel pipe and piping products. Bri-Chem stock popped 20% to $3.60.
And, Calico Resources (TSX: V.CKB, Stock Forum) Tuesday announced the final results from the first two core holes of the recently completed 12-hole drilling campaign at its Grassy Mountain Project in Oregon, which included 46.73 metres of 8.75 grams per tonne (g/t) gold. Calico shares powered as much as 29% higher to 58 cents.
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