On Monday, Temex Resources (TSX: V.TME, Stock Forum) shares climbed 13% to 26.5 cents after the micro cap miner reported that near surface exploration drilling on the Upper Hallnor Mine area of the Whitney Property near Timmins, Ontario, intersected 2.22 grams per tonne (g/t) gold over 35.70 metres.
As well, shares of Emerge Oil & Gas (TSX: T.EME, Stock Forum) shot up 20% to $1.19 as the oil and gas producer/explorer said it has entered into an arrangement agreement providing for Twin Butte Energy (TSX: T.TBE, Stock Forum) to acquire of all of the outstanding common shares of Emerge on the basis of 0.585 of a common share of Twin Butte for each outstanding Emerge share. The deemed purchase price is approximately $170 million in value, comprised of the issuance of approximately 54 million Twin Butte Shares (at a deemed price of $1.97 per Twin Butte Share) and the assumption of approximately $63 million in net debt estimated at closing.
In Tuesday trading, Hemisphere Energy (TSX: V.HME, Stock Forum) shares jumped 26% to 82 cents 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).
Also, 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.
Wednesday’s market action saw shares of Lake Shore Gold (TSX: T.LSG, Stock Forum) surge as much as 13% to $1.83 after the gold junior reported the completion of an initial National Instrument 43-101 resource estimate for its wholly-owned Thunder Creek property near Timmins, Ontario. The reported resource contains 521,600 contained ounces of gold in the Indicated category and 510,000 ounces gold in the Inferred category.
In addition, shares of BioSyent (TSX: V.RX, Stock Forum) gained 39% to 36 cents as the specialty pharmaceutical company announced a 60% increase in third-quarter total sales to $983,857, while total comprehensive income for the quarter was $235,998, 85% higher than the total comprehensive income of $127,389 for Q3 2010.
On Thursday, Enhanced Oil Resources (TSX: V.EOR, Stock Forum) shares powered as much as 27% higher to 21.5 cents after the energy junior announced that its indirect wholly-owned subsidiary, Ridgeway Arizona Oil Corp., has entered into a purchase and sale agreement with Kinder Morgan CO2 Company, L.P for all of Ridgeway's rights, title and interest in the St Johns dome and certain related assets located in Arizona and New Mexico, for a purchase price of US$30 million.
As well, shares of Iberian Minerals (TSX: V.IZN, Stock Forum) rose 38% to $1.09 as the junior miner said it has entered into an agreement pursuant to which Trafigura Beheer B.V. has agreed to make an offer to purchase all outstanding registered shares of Iberian that it does not already own by way of a take-over bid at a price of $1.10 per Iberian share in cash.
And, in Friday trading, Huldra Silver (TSX: V.HDA, Stock Forum) shares climbed 11% to $1.29 after the micro cap explorer reported initial results from the 2011 exploration program at Treasure Mountain in British Columbia, which included 492.714 grams per tonne (g/t) silver over 3.11 metres.
Finally, shares of Terrace Energy (TSX: V.TZR, Stock Forum) added 40% at 35 cents as the energy junior said it has acquired interests in several oil development projects in Texas, which included the right to earn an 18.75% net revenue interest in certain oil, gas and mineral leases covering 3,395 net acres in the Dimmit and LaSalle Counties.