Gulf Resources Inc (GURE)

[Already made it]

01:17 PM EST, 01/30/2015 (MT Newswires) -- Gulf Resources GURE) surged more than 80% in trading Friday after it said it found natural gas resources under its bromine well in Sichuan area.
Gulf Resources' CEO, Xiaobin Liu stated, "We are very excited and pleasantly surprised to have found natural gas under our existing well. We will hire a third party to conduct a survey of the geological structure and complexity analysis and the economics of the natural gas under this well. However, given the success of the Chinese National Petroleum Corporation in the same region, we are optimistic about this opportunity."
In 2014, the Chinese National Petroleum Corporation (CNCPC), discovered 440.4 billion cubic meters of proven geological natural gas reserves of which 308.2 billion cubic meters is "technically recoverable" in Moxi block of An'yue field Sichuan Province. This area is very near to the region where Gulf Resources is exploring for bromine.
Recently, shares of Gulf Resources were up 80%, or $0.94, to $2.13 on extremely heavy volume of 25.9 million shares. Average daily volume is 97,790 shares.
Price: 2.11, Change: +0.93, Percent Change: +78.81
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