5 Top Weekly TSXV Stocks: PetroTal Ups Oil Production in Peru

The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose slightly at the end of last week to reach 547.3 — an increase of 4.46 points or 0.82 percent. 

Last week, while impeachment drama in the US and Brexit drama in the UK continued to swirl, Canada spent its time absorbing the result of its federal election, which saw Prime Minister Justin Trudeau re-elected to a minority government, much to the rage of the oil and gas sectors in Western Canada.

In commodities, gold was back up above US$1,500 per ounce, while silver and copper were flat.

Here are the top five gainers in the resources and energy sectors on the TSXV from last week:

• Molori Energy (TSXV:MOL)
• Cantex Mine Development (TSXV:CD)
• PetroTal (TSXV:TAL)
• Skeena Resources (TSXV:SKE)
• Altura Energy (TSXV:ATU)

Read on to find out more about what each company has been up to lately.

Molori Energy

Molori Energy is an oil and gas company with assets in the Texas Panhandle. According to the company’s documents on SEDAR, Molori suspended all production due to market volatility in Q4 2018, and has yet to restart production as of the company’s management discussion and analysis document published on September 30 of this year. It has not posted any news since.

Despite a dearth of news, Molori Energy was up on the TSXV last week, reaching C$0.36 — an increase of 44 percent over the previous week.

Cantex Mine Development

Cantex Mine Development has properties in Canada, the US and Yemen. Its primary project is 100 kilometers northeast of Mayo, Yukon, where Cantex has 1,075 claims covering over 20,000 hectares.

The company’s most recent release was way back on September 10, when it announced new discoveries at the North Rackla silver-lead–zinc claim in the Yukon, expanding the prospective strike length there by 4 kilometers.

In Toronto, Cantex was trading at C$3.94 at the end of last week, after increasing by 31.33 percent over the previous five days’ trading.

PetroTal

PetroTal is a Houston-based, Peru-focused oil and gas development company. It has working interests in two projects in the country, one of which is producing.

The project that is producing is the Bretaña oil field, which, according to the most recent release last Monday (October 21), is on its way to increasing its daily oil production to 7,800 barrels.

The company was trading at C$0.32 last Friday, up by 26 percent on the previous week.

Skeena Resources

Skeena Resources is a Canadian company focused on developing precious metals projects in the Golden Triangle area of Northern British Columbia.

Last Tuesday (October 22), the company reported new gold-silver drill results from a Phase I surface drilling program at the Eskay Creek project within the area.

With that news, the company was up by 24.44 percent last week, reaching C$0.56.

Altura Energy

Junior oil and gas exploration, development and production company Altura Energy has operations in Central Alberta, Canada.

Recent news from the company came way back in mid-August, when it reported its Q2 financial and operating costs.

Altura was up by 22.45 percent last week, reaching C$0.30.

Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than C$10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.