Barnwell Industries: Jumps on buying oil and gas assets in Canada

Barnwell Industries

23/07/2018 15:04

** Shares of oil and gas producer  BRN.A  jump ~19 pct to
$2.12 in early trade; stock fourth-biggest pct gainer across
U.S. exchanges    
    ** Co says its unit entered into agreement with a
third-party to buy oil and natural gas properties in Alberta,
Canada for $10.5 mln in cash  urn:newsml:reuters.com:*:nGNX5VVGby
    ** CEO Alexander Kinzler says the purchased assets will
represent co's largest oil property
    ** More than 1.6 mln shares traded, making it BRN's busiest
session ever
    ** As of Friday's close, BRN had a market cap of $14.7 mln -
TR data
    ** Including session gains, stock up 1.5 pct

 (Reporting by Medha Singh in Bengaluru)
 ((medha.singh@thomsonreuters.com))