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by Stockwatch Business Reporter
The TSX Venture Exchange gained a fraction to 615.20 Wednesday. Arif Shivji's first capital pool shell, Predator Blockchain Capital Corp., has closed its qualifying transaction by acquiring an Alberta oil producer. The resulting issuer began trading today as Highwood Oil Company Ltd. (HOCL). It reached an intraday high of $11 before closing at $10.50 on 5,200 shares.
Highwood is producing about 1,100 barrels of oil a day in the Red Earth area in north-central Alberta, where it is targeting the Keg River formation. It also has an interest in the Wabasca River pipeline in the Red Earth area. Elsewhere in Alberta, Highwood has an exploration property targeting the Clearwater formation in the Jarvie/Nipisi area.
In the nine months to Sept. 30, 2018, Highwood earned $1.34-million on oil sales of $21.82-million and pipeline revenue of $2.64-million. At the end of the period, it had a working capital deficit of $25.2-million.
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