Australia's Grand Gulf Energy soars on option to acquire Namibia exploration licence

Grand Gulf Energy

14/04/2025 02:27

** Shares of Grand Gulf Energy GGE.AX rise 166.7% to A$0.004, their highest level since November 18, 2024

    ** Oil explorer eyes biggest pct gain since mid-September 2020

** Oil explorer enters deal with option to get 70% working interest in a petroleum exploration licence covering an area in the Walvis Basin, offshore Namibia

** About 39.2 mln share change hand in their busiest day since April 24, 2023

** Rise in shares help co log YTD gains of ~100%, including the day's move, vs a 25% loss on Friday's close

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))