DJ Canada Hot Stocks: Ventana, Petrolifera, Trinidad Drilling, Peyto

Among the companies whose shares are making notable moves in Friday's session are Ventana Gold Corp. (VEN.T), Petrolifera Petroleum Ltd. (PDP.T), Trinidad Drilling Ltd. (TDG.T) and Peyto Energy Trust (PEY.UN.T).

Ventana Gold (C$3.80, C$0.34, 9.9%) is adding to gains Thursday after TD started coverage at buy, noting it believes the company has resources that support the development of a concurrent open-pit/underground mining operation. It also announced additional La Mascota drill results and said it will add another three drills to accelerate exploration and infill drilling.

Petrolifera (C$3.00, C$0.20, 7.1%) has extended the deadline for submissions of bids related to the potential purchase of its Argentinean operations to July 10 at the request of a number of interested parties. It also said testing of its La Pinta No. 1 well on the Sierra Nevada License in Colombia is expected to start Saturday.

Trinidad Drilling (C$5.19, -C$0.51, -9.0%) said it will sell 27.2 million shares at C$5.15 each for gross proceeds of about C$140 million.

Peyto Energy (C$10.51, -C$0.72, -6.4%) said it plans an offering of 8.1 million units at C$10.50 each for proceeds of C$85 million.

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June 05, 2009 11:00 ET (15:00 GMT)

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