01:27 PM EDT, 05/22/2024 (MT Newswires) -- Canuc Resources ( CNUCF ) on Wednesday said it is carrying out repair and workover operations for producing natural-gas wells held by its MidTex Oil and Gas unit.

MidTex owns eight producing gas wells in Stephens County, West Texas, and also holds rights for further in field developments.

The repair and workover operation is expected to be completed in the next two to four weeks.

"In developing the company's cash flow from smaller projects in safe jurisdictions, we seek to protect shareholders from unnecessary dilution and to minimize share issuance," chief executive Christopher Berlet said.

Canuc shares were last seen up $0.015 to $0.10 on the TSX Venture Exchange.

Price: 0.10, Change: +0.02, Percent Change: +17.65