4:05pm: Valeura Energy, VSBLTY Groupe Technologies gains accelerate late afternoon
Valeura Energy closed up 123% at $1.45, while Commerce Resources rose 6% to $0.185, VSBLTY Groupe Technologies finished 11% higher to $0.21, and Hillcrest Energy Technologies ended up 5% at $0.105.
11:50am: Valeura Energy, Commerce Resources shares make big gains
Valeura Energy Inc (TSX:VLE) shares surged 85% to $1.20 on Tuesday after the oil and gas producer/explorer announced that its Valeura Energy Asia Pte Ltd subsidiary has agreed to acquire the Thailand upstream oil producing portfolio of Busrakham Oil and Gas Ltd for a total consideration of US$10.4 million plus up to an additional US$50 million, contingent upon certain upside price scenarios.
Valeura noted the assets collectively produce about 21,200 barrels per day (bbls/d) of oil, net to the interest being acquired.
As well, shares of Commerce Resources Corp (TSXV:CCE) shares continued to move higher Tuesday, up 14% to $0.20 following a 21% gain on Monday, as the junior mineral resource company said it has shipped a 100 gram sample of mixed rare earth carbonate (REC) to a major global processor of rare earth elements located outside of China.
Commerce added that it is currently in the process of producing another approximate 1.5 kilograms of mixed REC concentrate to satisfy additional third-party requests.
VSBLTY Groupe Technologies Corp (CSE:VSBY), meanwhile, reported that it has signed a joint venture agreement with Business Platform Investment Holdings (BPIH), a division of Al Jabr Group, to bring digital out-of-home solutions and the Store as a Medium (SaaM) program, as well as their security solutions, to retail outlets, the oil and gas industry and smart cities in five Middle East countries. VSBLTY stock moved up 8% to $0.205 following the announcement.
And, Hillcrest Energy Technologies (CSE:HEAT) shares rose 10% to $0.11 on Tuesday after the clean technology company revealed that it has completed its 800-volt (V), 250-kilowatt (kW) Zero Voltage Switching (ZVS) traction inverter commercial prototype, which Hillcrest says has validated its technology.
READ: Hillcrest Energy completes its first Zero Voltage Switching traction inverter commercial prototype
Contact Sean at sean@proactiveinvestors.com