Shares of Singapore’s petroleum exploration and production firm Interra Resources jumped by as much as 14% after brokerage CIMB said the firm may be a more attractive play on Myanmar than Yoma Strategic Holdings, reported Reuters.

By 11:49 a.m. on Wednesday, Interra shares were up 11.6% higher at $0.24 with 15.4 million shares traded, 1.3 times its average daily volume traded over the last five sessions. The shares have more than doubled this year.

 

Interra holds 60% of the rights to two of the largest onshore oilfields in Chauk and Yenangyaung, Myanmar.

 

“Taking into consideration Yoma’s lofty valuations even after yesterday’s sell down, traders may want to switch to relatively cheaper Interra Resources to keep their exposure to Myanmar,” CIMB said in a report.

 

Property firm Yoma, which has operations in Myanmar, has seen it shares more than double this year on  market expectation the company will benefit from the opening of the reclusive state, which has recently started introducing political and economic reforms.

 

The shares fell 16% on Tuesday and were up 5.8% at S$0.46 on Wednesday.