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UPDATE: Quattro Exploration Closes Acquisition of Oil and Gas Production in Alberta; Shares Hike 24%

Quattro Exploration And Production Ltd. (QXP.V) has entered into an arms-length agreement with a private Alberta-based oil and gas exploration and production company to acquire certain oil and gas interests in eastern Alberta.

The acquisition is comprised of a 100% interest in a package of gas producing properties, currently producing an aggregate 39 boe/d (of which 4% is natural gas liquids), and additional associated undeveloped lands in east central Alberta.

QXP rallied 24% to 13 cents, moving closer to 52-week high $0.155.

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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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