Australia's Grand Gulf Energy rises on drill permit approval in Utah

Grand Gulf Energy

05/01/2023 01:40

** Shares of Grand Gulf Energy Ltd  GGE.AX  rise as much as
10.5% to A$0.021, their highest since Dec 13 
    ** The oil and gas explorer says it has received approval of
the permit to drill from Utah Division of Oil, Gas and Mining
(UDOGM) for Jesse-2 helium well at its Red Helium project in the
United States 
    ** Co adds it will now conduct drilling of Jesse-2 in early
Q1 2023
    ** Stock posts its biggest intraday pct gain since Dec 28
    ** More than 4.1 mln shares change hands, vs the 30-day
average volume of 2.4 mln shares
    ** GGE stock lost 26.9% in 2022
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))