Oil exploration company, Groundstar Resources has seen its stock price rise as drilling begins in blocks in which the Canada-based company has a stake.
The company has begun to drill in its Takutu Block here and is testing its equipment before going deeper. A note from a company representative on Thursday said the company’s shares have propelled 20% higher in the last two trading days. “The company is firing on all cylinders, with drilling activity evident on all three properties in which it has a carried interest,” the representative said. The stock is expected to continue to rise.
At the moment, the company’s stock
