Sumatec continues to be heavily traded after pre-sale gas agreement announcement
23 Jan 2018 / 12:08 H.
PETALING JAYA: Heavy trading in Sumatec Resources Bhd shares continued today, after it announced that its gas development and production partner CaspiOilGas LLP (COG) had signed a pre-sale gas agreement with Kazakhstan's NIPIneftgas (NIPI) consortium.
Sumatec and COG's parent company Markmore Energy labuan Ltd have a gas development and production agreement for resources at the Rakushechnoye field in Kazakhstan. COG is the concession holder for the field.
The group is the most actively traded today, having seen 251.8 million shares changing hands in the first three hour of trading.
The stock hit a low of 10.5 sen before settling unchanged at 11.5 sen earlier.