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TSX Top Traders: (KEL), (IAE), (UUU), (XIU)

Category: Investment

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New York, New York - March 1, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on the top traders on the TSX for March 1st, 2013.

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Kelt Explorations Ltd., (TSX:KEL) trading at $5.46 gained $0.06 or 1.11% on a high volume of 13,509,462 shares, making it today's top trader on the TSX.

Kelt Exploration Ltd. commenced operations earlier this week as a new junior oil and gas exploration and development company. Kelt was formed as a result of a plan of arrangement involving Celtic Exploration Ltd., ExxonMobil Celtic ULC, a wholly owned subsidiary of ExxonMobil Canada Ltd., and Kelt. Pursuant to the Arrangement, the Purchaser acquired all of Celtic's outstanding common shares and all of the outstanding 5.00% convertible unsecured subordinated debentures of Celtic due April 30, 2017. The former shareholders of Celtic received, for each Celtic Share held, cash consideration of $24.50 per share and one-half (1/2) of a common share of Kelt.

Trading in respect of the Kelt Shares commenced under the symbol "KEL" upon the listing of the Kelt Shares on the Toronto Stock Exchange today.

Ithaca Energy Inc., (TSX:IAE) trading at $1.850 dropped $-0.120 or -6.09% on a volume of 5,488,977 shares.

Ithaca Energy Inc. offered to buy Valiant Petroleum Plc for 203 million pounds ($308 million) in cash and shares to double the North Sea oil explorer's production.

Valiant owners will receive 307 pence in cash and 1.33 shares in Calgary-based Ithaca for each Valiant share. The total represents a 37 percent premium to Woking, U.K.-based Valiant's 142 million-pound market value yesterday.

The deal marks a consolidation of North Sea explorers as they focus on expanding the search for oil and extending the life of fields after Exxon Mobil Corp. and BP Plc sold assets in the region. The deal will create an operator with 74 million barrels of reserves and will more than double Ithaca's current production to 27,000 barrels of oil equivalent a day.

Uranium One Inc., (TSX:UUU) trading at $2.730 lowered by $-0.010 or -0.36% on a volume of 3,632,722 shares.

iShares S&P/ TSX 60 Index (TSX:XIU) trading at $18.500 went down $-0.110 or -0.59% on a volume of 3,157,542 shares.

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