In November, Eaglewood started a new 2D seismic survey on PPL 259. The company will focus on high-grading the Nama and Malisa leads outlined in April 2012. The company will also look at the Ekelesia lead.

9. Bayshore Petroleum (TSXV:BSH); current price: $0.33; year-to-date: 113.33 percent; 52-week high: $0.36.

Bayshore Petroleum has Canadian unconventional and conventional oil and gas prospects. The company announced in June the start of drilling in an exploratory well — Bayshore Radevill 8-5-6-17W2 in Radville, Saskatchewan. The company entered into an MOU with CCC CanSino Corp — a Canadian private research and development company based out of Calgary. The MOU is for a 10-year license agreement to use CanSino's proprietary catalyst in the oilsands upgrading application, in order to upgrade bitumen directly into diesel-quality light oil.

In December, Bayshore announced a heavy oil pilot project. The company entered into an MOU with a private Saskatchewan-operating oil and gas company whereby Bayshore will construct a small-scale heavy oil upgrading facility using a cold catalytic cracking process. The initial process and upgrade is expected to produce 350 barrels of heavy oil per day.

10. Contact Exploration (TSXV:CEX); current price: $0.33; year-to-date: 113.33 percent; 52-week high: $0.36.

Contact Exploration is a Canadian oil and gas junior with a history of operating in Atlantic Canada. The company provided investors with operational updates on December 13 that highlighted the first horizontal drill at the company's Montney well in Alberta being placed on December 1. Over the first seven days, the well produced an average of 200 bbls of well head condensate/mmf natural gas. The company holds a 37.5-percent working interest before payout and a 25-percent interest after payout in the well.

 

Securities Disclosure: I, Vivien Diniz, hold no investment interest in any of the securities mentioned.

Top 10 Performing Junior Oil and Gas Companies of 2012 from Oil Investing News

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