Oil and Gas

5 Top Weekly TSX Performers: Kolibri Leads Oil and Gas Stocks Up

Oil and Gas Investing
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Last week's top-gaining stocks on the TSX were Kolibri Global, Petrus Resources, Crew Energy, Bengal Energy and Erdene Resources.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 21,883.31 early last Friday (April 1) morning.

It closed the five day period at 21,959.02, up only marginally from its start of 21,949.76.

Looking over to metals, gold finished the first quarter of the year above the US$1,900 per ounce level, despite slipping on Friday on the back of a stronger US dollar.

“While geopolitical crises do not last forever, we expect the secondary impacts of the Russia-Ukraine crisis to provide a strong level of support for gold prices this year,” ANZ said in a note.

Last week, a number of companies saw their share prices increase. The five TSX-listed mining stocks that saw the biggest gains are as follows:

  • Kolibri Global Energy (TSX:KEI)
  • Petrus Resources (TSX:PRQ)
  • Crew Energy (TSX:CR)
  • Bengal Energy (TSX:BNG)
  • Erdene Resource Development (TSX:ERD)

Here’s a look at those companies and the factors that moved their share prices last week.

1. Kolibri Global Energy

International energy company Kolibri Global Energy aims to find and exploit projects centered on oil, gas and clean and sustainable energy. Its properties are located in the US, and the company operates them via its subsidiaries.

Last Thursday (March 31), the company issued an update on production at its Barnes 7-3H well in its Tishomingo field in Oklahoma, stating it is currently producing over 1,000 barrels of oil equivalent per day. Shares of Kolibri increased 43.75 percent last week to trade at C$0.23 by the end of the period.

2. Petrus Resources

Petrus Resources' exploration and exploitation activities are centered on Alberta, where it has a portfolio of oil and gas development assets. According to the energy-focused company, it operates in three main areas, which are Ferrier, Central Alberta and the Rocky Mountain foothills.

Last Monday (March 28), the company gave an activity update, reporting average estimated February production of 7,216 barrels of oil equivalent per day; its share price increased 24.51 percent to end the week at C$2.54.

3. Crew Energy

Natural gas producer Crew Energy's activities are primarily centered on the Montney resource in Northeast BC, Canada, where it has a large, contiguous land base of approximately 277,000 net acres (433 net sections).

Over the five day period, shares of Crew Energy increased 16 percent to end the week at C$4.93, although Crew Energy has not released any news since early March.

4. Bengal Energy

With a weighting toward light oil, explorer and producer Bengal Energy has producing and prospective onshore operations in Australia's Cooper Basin. Currently, the company produces mostly ultra-light, sweet crude oil.

Last Wednesday (March 30), the Calgary-based company published an independent oil and natural gas resource assessment. Bengal Energy saw its share price increase 14.29 percent over the five day period to hit C$0.12.

5. Erdene Resource Development

Erdene Resource Development has been exploring in Southwest Mongolia for the past decade, and discovered the Khundii Gold District. The company is considering two prospects for development: the Bayan Khundii and Altan Nar projects, both of which it wholly owns. Together, the two deposits comprise the Khundii gold project.

Last week, shares of Erdene Resources increased 14.29 percent and were trading at C$0.48 by the end of the week.

Data for 5 Top Weekly TSX Performers articles is retrieved each Friday at 10:30 a.m. EST using TradingView's stock screener. Only companies with market capitalizations greater than C$50 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals are considered.

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

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