TSX Oil and Gas Stock Horn Petroleum (TSX.V: HRN) Gains over 13%
Category: Investment, Energy
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News about Horn Petroleum Corporation
New York, NY - June 11, 2012 - www.InvestorIdeas.com, a leader in sector research for independent investors issues a trading snapshot for TSX oil and gas stock, Horn Petroleum Corporation (TSX.V:HRN). The stock is trading at $1.52, gaining 0.18 or (13.43%) 10:33AM EDT on volume of over 440,000 shares. The stock has a morning high of $1.57.
Last week the Company announced the commencement of drilling operations on the Shabeel North well in Puntland, Somalia, the second well in the current drilling campaign. On Friday the Company reported it closed a $15 Million Private Placement. The Company sold on a non-brokered private placement basis an aggregate of 18.75 million units at a price of $0.80 per unit for gross proceeds of $15 million.
Horn Petroleum Corporation is a Canadian oil and gas company with assets in Puntland, Somalia. The Corporation holds a 60% interest and operatorship in the Dharoor and Nugaal blocks encompassing a Jurassic Rift Basin on trend and analogous to the large oil fields in Yemen
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