Magellan Petroleum Corp. (NASDAQ:MPET)’s share price was up 11.4% during mid-day trading on Friday . The stock traded as high as $3.30 and last traded at $3.13, with a volume of 694,653 shares changing hands. The stock had previously closed at $2.81.

The stock’s 50-day moving average is $1.36 and its 200-day moving average is $1.11. The firm’s market capitalization is $19.13 million.

Magellan Petroleum Corporation is an oil and gas exploration and production company, which focuses on the development of carbon dioxide (CO2) enhanced oil recovery (CO2-EOR) projects in the Rocky Mountain region. The Company owns exploration acreage in the Weald Basin, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory in Australia.

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