Australia's Grand Gulf Energy hits near 2-month high on deal with Paradox Resources

Paradox Interactive AB (publ)

16/03/2022 24:37

** Shares of Grand Gulf Energy  GGE.AX  rise as much as
12.5% to A$0.036, their highest since Jan. 20
    ** Oil and gas explorer announces https://www.asx.com.au/asxpdf/20220316/pdf/457259clwrlyd5.pdf
 execution of a gas sales and processing agreement with
U.S.-based Paradox Resources LLC
    ** Says agreement provides opportunity to monetize co's
maiden pure-play helium well Jesse#1, to be drilled in the Red
Helium project area, in the event of a successful well
    ** Stock posts its biggest intra-day percentage gain since
March 9
    ** More than 9 mln shares have changed hands, vs the 30-day
average of about 4 mln shares 
    ** GGE up ~33.3% this year, as of last close 
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))