Stockhouse Canadian Small and Micro-cap Stock Report for Monday, January 9, 2012
TORONTO (SHfn) – Pan Orient Energy (TSX: V.POE, Stock Forum) shares climbed 23% to $2.48 on Monday after the oil and gas exploration and production company reported that the L53-D2 exploration well, drilled into the L53-D East exploration prospect in Thailand, encountered approximately 65 meters of interpreted net oil pay averaging 20% porosity within five to six separate conventional sandstone reservoirs between the depths of 550 to 940 meters. Testing will be required to confirm the commercial potential of this discovery and will begin within the next 72 hours.
As well, shares of SilverBirch Energy (TSX: V.SBE, Stock Forum) shot up 34% to $9.61 as the pre-production oil sands firm announced that it has entered into an agreement by which Teck Resources (TSX: T.TCK.B, Stock Forum) will acquire SilverBirch. Under the arrangement, SilverBirch shareholders will receive $8.50 in cash and one share of a new company, SilverWillow Energy Corporation, per SilverBirch common share. SilverWillow will hold substantially all of the assets of SilverBirch other than SilverBirch's 50% interest in the Frontier and Equinox oil sands project.
Seafield Resources (TSX: V.SFF, Stock Forum), meanwhile, reported drill results from the Miraflores prospect as part of its ongoing exploration program at its Quinchia gold project in Colombia, which included 110.4 metres of 1.31 grams per tonne (g/t) gold. Seafield stock popped as much as 16% to 18 cents.
Shares of SENSIO Technologies (TSX: V.SIO, Stock Forum) surged 32% to 45 cents after the 3D technologies provider said it has signed a licence agreement for the integration of SENSIO Hi-Fi 3D into SoCs destined for 3DTVs with an semiconductor manufacturer, that the company said has asked to remain anonymous for competitive reasons.
And Rye Patch Gold (TSX: V.RPM, Stock Forum), through its wholly-owned subsidiary Rye Patch Gold US Inc., Monday reported assay results from its 100% owned LH Claims, Rochester property, located on the Oreana trend in Nevada, in which five new gold and silver discovery areas have been identified. Rye Patch Gold shares added 9% at 59 cents.
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