High Plains Gas Inc ( OTC: HPGS ), Stock jumped more than 62 % to $ 1.20 in the morning trade. There was o specific news or announcements relevant to company's developments. Volumes are much stronger and traders might take buy positions as stock might see more upside at this level.





Our Call: Buy positions may be initiated only for intraday trade.

Last news from  the company was it has amended a pact with J.M huber corporation on June 1st 2011.

High Plains Gas Inc

High Plains Gas Inc announced the amendment of the Purchase and Sale Agreement between High Plains and J.M. Huber Corporation. The transaction involves certain coalbed methane assets in Wyoming and Montana and has been extended. The amendment expires June 30, 2011, but has provisions which allow the parties to either close or cancel the amendment prior to that date. Details of the transaction were first announced on February 27, 2011. This amendment grants High Plains Gas, Inc. additional time to close the purchase of Huber's Powder River Basin coalbed methane assets as amended. Huber has the right to pursue sales to third parties and may terminate the agreement upon written notice and pursue actions that it deems appropriate. High Plains may notice Huber at anytime of its intentions to close the transaction prior to any termination notice and the transaction may proceed to close. Huber continues to hold non-refundable deposits in the amount of $2 million and 2 million shares of HPGS common stock which may be applied towards the closing price.