Rock Energy Rolls to 4% Advance; Possibly Gaining on Sale, Study Speculation
Rock Energy Inc. (RE.TO) is up more than 4% early Monday, easing slightly from an 8% jump soon after the bell, possibly gaining on speculation the gas and oil company is close to a deal for some or all of its assets.
The company earlier this month said it was creating a board committee to consider various sale alternatives to free up resources for the Elmworth Montney natural gas play in Alberta. Rock also said it had commissioned a new engineering study for a portion of the Elmworth area and was expecting to release results of the study within a few weeks of the Aug. 9 announcement.
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