UPDATE: Harvest Natural Spikes to New Year High, Up 13% - Discovers Oil Offshore Gabon

By MidnightTrader.com Staff,

Shutterstock photo

Harvest Natural Resources Inc. ( HNR ) has surged 13.3% to $10.43, below the new 52-week high of $10.83 hit earlier today, after the company said that it has encountered oil in the wildcat well Dussafu Tortue Marin-1 drilled in the Dussafu Marin PSC, in the offshore waters of Gabon, West Africa.

Harvest operates the Dussafu PSC, holding a 66.667% interest.

The company said additional technical evaluation will be required to appraise this discovery.

HNR has a 52-week low of $4.85. Shares have fallen 45% in the last 12 months.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: HNR

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