Every public company loves to put out good news and see the reflection in its stock price. The following four companies released positive news of some kind either this morning or late yesterday and have seen their stock prices soar so far today.Just after the market’s open, shares of RussOil Corp. (OTCBB: RUSO) rose nearly 59 percent, 59 cents, to $1.60. The jump comes after the company’s announcement yesterday of the completion of a purchase agreement with oil and gas company OSJC Smolenergy. Per the agreement, RussOil will acquire 100 percent of Smolenergy in consideration of 11 million shares of restricted shares of RussOil common stock.
Shares of Celsion Corp. (AMEX: CLN) rose 5.6 percent, or 3 cents, to $6.44 this morning, reflecting yesterday’s announcement regarding the company’s Phase I liver cancer study. The company reported it completed the study, conducted at the National Cancer Institute. The clinical data is being assembled for analysis for future submission to the U.S. Food and Drug Administration.
Galaxy Energy Corp. (AMEX: GAX) shares were up 8 percent, or 1 cent, to 16 cents this morning. The company today announced an amendment to the Purchase and Sale Agreement with PetroHunter Energy Corp. Per the agreement between Galaxy, its subsidiary Dolphin Energy and PetroHunter, PetroHunter will pay an aggregate of $45 million to acquire all of Galaxy and Dolphin Energy’s oil and gas interest in several Wyoming and Montana counties. The amendment extends the original closing date of Dec. 29, 2006, to on or before June 30, 2007.
JED Oil Inc. (AMEX: JDO) shares rose nearly 10 percent, or 19 cents, to $2.19 this morning as the company announced its previous offer to Caribou Resources Corp. (TSX: CBU) has moved closer toward acceptance. The offer is to acquire all of Caribou shares and settle with its creditors. The Court of Queen’s Bench of Alberta in Calgary approved an extension of the stay of proceedings until June 14, 2007, to give Caribou and its Monitor Deloitte and Touche Inc. time to negotiate details of the transaction.