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Winners and Losers: Whitebark soars as oil production resumes at Wizard Lake


The resumption of oil production in Canada sent Whitebark’s price up nearly 70 per cent last week.

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The South Australian-headquartered company which operates an oil and gas field in Alberta, Canada, saw its shares skyrocket on the news that production had resumed at a key site.

The Wizard Lake oil and gas Rex-3 field returned to production, with the listed company forecasting the site’s output will increase to over 200 barrels per day as a result.

CEO Dr Simon Brealey said it was “important as Rex-3 is our most prolific well and has the capacity to double field production to approximately 200 barrels of oil equivalent per day”.

Vintage Energy was another big mover this week, rising by 31.03 per cent, while Unico Silver also saw its shares rise by 28.38 per cent.

The top five winners of the week included PNX Metals and Anatara Lifesciences which both enjoyed healthy gains of 20 per cent and 13.79 per cent respectively.

As for the losers, iTech Minerals saw the biggest fall, down 20.85 per cent in the week ending 20 October.

Argonaut Resources and Archer Materials also fell, with the latter’s decline due to a postponed investor webinar due to “a personal matter that has arisen for CEO, Dr Mohammad Choucair”.

AML3D and 1414 Degrees rounded out the bottom five with share price dives around 10 per cent each.

The full list of Winners and Losers is below:

Data compiled by Baker Young Limited.

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