Petrominerales Ltd. (T.PMG) hit a new 52-week high of $19.50; Petrominerales Ltd. provided an update on recent exploration activities, highlighted by its decision to case Candelilla-1 as a potential oil well, the re-alignment of its drilling plans to incorporate the immediate drilling of Candelilla-2 and the testing of heavy oil at its Percheron-1 well.
The Percheron-1 well, commenced drilling on September 30, 2009 and reached a total vertical depth of 12,196 feet on October 27, 2009. Well logs indicated potential net oil pay of four feet in the Guadalupe formation, 51 feet in the Lower Sand 1 and 25 feet in the Lower Sand 3. The upper portion of the Lower Sand 1 was tested with an electric submersible pump and produced 281 barrels of oil per day ("bopd") of 11 degree API oil at a 93% water-cut.
The Candelilla-1 well, the second exploration well on the Guatiquia Block, commenced drilling on November 9, 2009 and was drilled to a total vertical depth of 11,681 feet on December 16, 2009. Well logs indicate 97 feet of potential net oil pay in the Lower Sand 2 zone and 13 feet of potential net oil pay in the Upper Mirador. The well has now been cased as a potential oil well and the company plans to conduct a multi-zone testing program with test results expected by the end of January.
Endeavour Silver Corp. (T.EDR) hit a new 52-week high of $4.29; no news announcements today
Bankers Petroleum Ltd. (T.BNK) hit a new 52-week high of $6.49; no news announcements today
Jinshan Gold Mines Inc. (T.JIN) hit a new 52-week high of $3.08; no news announcements today
Grande Cache Coal Corp. (T.GCE) hit a new 52-week high of $5.74; no news announcements today
Jovian Capital Corp. (T.JOV) hit a new 52-week high of $10.99; no news announcements today
Cogeco Inc. (T.CGO) hit a new 52-week high of $29.24; no news announcements today
Arsenal Energy Inc. (T.AEI) hit a new 52-week high of 69 cents; no news announcements today
Velan Inc. (T.VLN) hit a new 52-week high of $14.94; no news announcements today
Transat A.T. Inc. (T.TRZ.B) hit a new 52-week high of $21.99; no news announcements today
