AllPennyStocks.com Stock of this Junior Miner Moving Higher on LOI Announcement
AllPennyStocks.com

Stock of this Junior Miner Moving Higher on LOI Announcement

Stock of this Junior Miner Moving Higher on LOI Announcement By: Dylan Sikes – AllPennyStocks.com News

Thursday, October 3, 2024

This junior oil and gas exploration and production company with operations in Alberta is seeing some Thursday action after announcing an LOI.

Tenth Avenue Petroleum Corp. (TSXV:TPC) announced in a press release today that it has signed a non-binding Letter of Intent to acquire approximately 82 boe/d (492 mcf/d) of low decline, long-life producing natural gas assets located northeast of Brooks, Alberta from an arm's length party.

The acquisition will increase production by 88%, adding 82 boe/d, including 492 mcf/d of natural gas, while integrating without additional administrative costs. It strengthens the company’s low-decline production base, with an annual decline of 8% and long-life proved reserves. Additionally, the acquisition expands the operating area in Southern Alberta, adding 32.23 gross sections of contiguous land for multi-zone development and exploration.  

Shares were trading up in late morning trade.


Copyright © 2024 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Other Penny Stock Movers

Canada’s Producer Prices Gain in November
 Read More
Shares Higher as Beverage Company Provides Acquisition Update
 Read More
Firm Expands Footprint to Four Blockchains, Sending Shares Higher
 Read More
Most Popular
1
Health and Wellness E-commerce Operator Trading Up on Record Revenue
2
What Retirement Accounts Should I Withdraw From First?
3
Blue Origin Is Ready to Launch New Glenn Rocket After Critical Test
4
This Healthcare Stock Massively Outperformed The Market Before The Holiday
5
Canada’s Producer Prices Gain in November
6
Shares Higher As Company Bridges the Gap Between AI, Quantum and Crypto


Back to Top
Site Links:
Premium Services / Email Newsletter:
Social Media:
RSS Feed:
Partners:
© Copyright 2024 AllPennyStocks.com Media Inc. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes.
Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Data is provided by QuoteMedia.com.
© Copyright 1999 – 2024. AllPennyStocks.com Media Inc.
All rights reserved.