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Alange Energy Corp Up More Than 3% on Huge Volumes but Dearth of Fresh News

Alange Energy Corp (ALE.V) is up more than 3% on huge volumes, close to 17 million shares have changed hands, although there is no apparent fresh news driving the stock.

Alange on October 4 provided an update on the drilling of Topoyaco-2, one of the first two exploration wells being drilled in the Topoyaco block, located in the Putumayo Basin of Colombia. The Topoyaco-2 well, spudded on August 8, 2010, is being drilled to explore the prospectivity of the Villeta and Caballos Formations in the block. The objective is to drill the structure known as Prospect C, with calculations of prospective resources certified by Petrotech Engineering Ltd. in its report dated effective April 30, 2010 of 19.2 MMbbl (best estimate).

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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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