Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, March 13, 2012
TORONTO (SHfn) – Adira Energy (TSX: V.ADL, Stock Forum) shares jumped 70% to 28 cents on Tuesday after the oil and gas explorer said it has received two independent resource reports including a best estimate in aggregate of 232.2 million barrels (MMbbl) of oil and condensate, including 110.1 MMbbl of contingent oil, and 1.8 TCF of gas on the company's Gabriella License and Yitzhak License located offshore Israel.
As well, shares of Strategic Oil & Gas (TSX: V.SOG, Stock Forum) shot up as much as 18% to $1.05 on volume of more than 3.1 million shares as the energy junior announced that an exploratory vertical well drilled at Steen River in Alberta has resulted in a new light oil discovery. The well flowed on average 733 barrels of 36 degrees API oil for 7-8 hours each day. Over a 29 hour test the well flowed a total of 3083 boe (2933 bbl of oil and 149 boe of associated gas).
Naturally Advanced Technologies (TSX: V.NAT, Stock Forum), meanwhile, reported developments in the production of CRAiLAR, a natural fiber made from flax and other bast fibers. The company embarked on a year-long effort in 2011 to optimize production of its CRAiLAR technology. The resulting process improvements effectively reduce the enzymatic process time by 40%, thereby significantly reducing the overall CRAiLAR fiber cycle time, this according to the company. Naturally Advanced Technologiesstock popped as much as 14% to $3.50.
And, Northcore Technologies (TSX: T.NTI, Stock Forum) Tuesday said it has entered into an agreement to purchase a software development firm. Northcore added that the entity is a Canadian corporation with approximately $800,000 in revenues and a growing client base across a diverse cross section of industries. Northcore Technologies shares surged 25% to 10 cents.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) |
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