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WEL -- Boots & Coots Reports Fourth Quarter and Year-End Results
Company Realizes Strongest Year in History
http://app.quotemedia.com/quotetools/popups/story.jsp
Boots & Coots International Well Control, Inc. (AMEX:WEL), reported net income attributable to common stockholders of $4.5 million, or $0.07 per diluted share, for the fourth quarter ended December 31, 2006 compared to net income of $1.2 million, or $0.04 per diluted share, for the same period in 2005. Revenues for the fourth quarter of 2006 were $33.7 million compared to $5.9 million in the fourth quarter of 2005. The Company reported EBITDA (defined as earnings before interest, income taxes, depreciation and amortization; see the reconciliation and rationale for this non-GAAP financial measure below) of $8.9 million for the 2006 fourth quarter compared to $1.9 million for the 2005 fourth quarter. The 2006 fourth quarter includes the operating results for the hydraulic workover/snubbing business acquired effective as of March 1, 2006.
For the year ended December 31, 2006, the Company reported net income attributable to common stockholders of $11.8 million, or $0.21 per diluted share, compared to $1.9 million, or $0.06 per diluted share for 2005. Revenues for the year were $97.0 million compared to $29.5 million for 2005. EBITDA was $24.8 million in 2006 compared to $5.3 million for the prior year. Included in the 2006 operating results is ten months of results from the Company’s acquired hydraulic workover/snubbing business. Boots & Coots recognized an effective tax rate of 34.4% in 2006 compared to 28.9% in 2005.
“2006 was a true milestone for Boots & Coots. In 2005, our response business accounted for more than 50% of our revenue mix. In 2006 it accounted for less than 22%, thanks to our acquired hydraulic workover/snubbing services and our growing Safeguard business,” stated Jerry Winchester, President and Chief Executive Officer. “In 2006 we exceeded $100 million in revenues on a pro forma basis. Pro forma revenues were $105.6 million, 52% higher than 2005 pro forma revenues, with Well Intervention growing 58% and Response growing 30%.
“Growth in both segments reflects our strategy of gaining a geographic presence and then expanding that presence with additional service offerings. Our successes in Algeria and more recently in Libya are both great examples of this strategy, and we plan to use those as blueprints to expand our presence in other countries as well as here at home.”
Business Segment Results
Well Intervention
For the 2006 fourth quarter, the Well Intervention segment generated revenues of $22.5 million and EBITDA of $4.2 million compared to $3.5 million in revenues and $0.7 million in EBITDA in the 2005 fourth quarter, reflecting a revenue increase of 539% and an EBITDA increase of 520%. These increases were due primarily to the inclusion of results for the hydraulic well control business from and after March 1, 2006, the effective date of the acquisition, and quarter-over-quarter growth in the Company’s Safeguard services of 106%. The hydraulic well control business contributed $15.8 million in revenues and $2.2 million in EBITDA in the fourth quarter of 2006. For the year, Well Intervention generated $76.7 million in revenues and $16.5 million in EBITDA, up 453% and 478%, respectively, in 2006 compared to revenues of $13.9 million and EBITDA of $2.8 million in 2005. The hydraulic well control business contributed $53.8 million in revenues and $13.0 million in EBITDA for the period from March 1, 2006 to December 31, 2006.
Response
For the 2006 fourth quarter, the Response segment generated revenues of $11.2 million and EBITDA of $4.8 million compared to $2.4 million in revenues and $1.3 million in EBITDA in the 2005 fourth quarter. For the year ended 2006, the Response segment generated $20.4 million in revenues and $8.3 million in EBITDA compared to $15.7 million in revenues and EBITDA of $2.4 million for 2005. Margins improved due to reduced third party pass-through charges, favorable pricing and operating leverage gained on increased activity.
During the first quarter of 2006, the Company adopted Statement of Financial Accounting Standards No. 123 (revised 2004), which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees, consultants and directors; including employee stock options based on estimated fair values. For the quarter and year ended December 31, 2006, the Company incurred non-cash charges of $0.3 million, or $0.01 per diluted share, and $1.3 million, or $0.02 per diluted share, respectively, related to share based awards as compared to zero in both comparable periods in 2005.
First Quarter Update
The company expects revenues and net income in the first quarter of 2007 to be down from the fourth quarter of 2006. Response revenues will be significantly lower in the first quarter of 2007 and certain Well Intervention projects of customers in the Gulf of Mexico and Venezuela have been delayed. “The second quarter is historically a stronger quarter in the Gulf of Mexico so we expect that callout work will increase going forward,” stated Mr. Winchester. “Based on our operating history, the apparent backlog in Venezuela and delays resulting from the change in operating control of fields, we expect those projects to resume in due course.” Due to the cyclical nature of the Response business, as evidenced by the concentration of 2006 Response work in the last two quarters of the year, the company's Response revenues for the first quarter will approach the level of the first quarter of 2006.
Conference Call
Boots & Coots will hold its quarterly conference call to discuss 2006 results tomorrow, March 21, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). The dial-in number for the call is 800-706-7745, passcode ‘Boots & Coots’. To listen to the live Webcast, log on to www.bncg.com/investor/invest.htm and click on the 2006 Earnings Webcast link. A replay of the Webcast will be available on the investor relations page of the Company’s Website within 24 hours of the call. The call will also be available for replay for 30 days by dialing 888-286-8010, passcode 76298178. A copy of this press release and any other financial information about the period to be presented will be available at the Investor Relations section of the Company’s Website.
About Boots & Coots
Boots & Coots International Well Control, Inc., Houston, Texas, provides a suite of integrated pressure control services to onshore and offshore oil and gas exploration companies around the world. Our business segments are Well Intervention and Response. The Well Intervention segment consists of services that are designed to enhance production for oil and gas operators and reduce the number and severity of critical well events such as well fires, blowouts or other losses of control at the well. The scope of these services includes training, contingency planning, well plan reviews, audits, inspection services and engineering services offered through our Safeguard programs and services offered in conjunction with our WELLSURE® risk management program. This segment also includes services performed by hydraulic workover and snubbing units that are used to enhance production of oil and gas wells. The Response segment consists of personnel, equipment and services provided during an emergency response such as a critical well event or a hazardous material response. These services include snubbing and other workover services provided during a response. For more information, visit the Company's web site at www.boots-coots.com.
Certain statements included in this news release are intended as "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Boots & Coots cautions that actual future results may vary materially from those expressed or implied in any forward-looking statements. More information about the risks and uncertainties relating to these forward-looking statements are found in Boots & Coots' SEC filings, which are available free of charge on the SEC's web site at www.sec.gov.
(Tables to follow)
BOOTS & COOTS INTERNATIONAL WELL CONTROL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(000’s except share and per share amounts)
Three Months Ended
December 31,
Year Ended
December 31,
2006 2005 2006 2005
(unaudited) (unaudited)
REVENUES(a) $ 33,745 $ 5,873 $ 97,030 $ 29,537
COST OF SALES, excluding depreciation and amortization 18,844 1,968 52,281 14,488
Gross Margin 14,901 3,905 44,749 15,049
OPERATING EXPENSES 4,865 1,276 15,597 7,098
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 1,005 685 4,118 2,674
OTHER OPERATING EXPENSES 85 — 259 —
DEPRECIATION AND AMORTIZATION 1,417 122 4,883 714
OPERATING INCOME 7,529 1,822 19,892 4,563
INTEREST EXPENSE AND OTHER, net 751 132 2,860 655
INCOME BEFORE INCOME TAXES 6,778 1,690 17,032 3,908
INCOME TAX EXPENSE 2,292 252 5,867 1,129
NET INCOME 4,486 1,438 11,165 2,779
PREFERRED DIVIDEND REQUIREMENTS AND ACCRETIONS
—
225
(616)
874
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS
$ 4,486
$ 1,213
$ 11,781
$ 1,905
Basic Earnings per Common Share: $ 0.08 $ 0.04 $ 0.22 $ 0.06
Weighted Average Common Shares Outstanding – Basic 58,893,000 29,536,000 53,772,000
29,507,000
Diluted Earnings per Common Share: $ 0.07 $ 0.04 $ 0.21 $ 0.06
Weighted Average Common Shares Outstanding – Diluted 60,657,000 31,379,000 55,036,000
31,374,000
(a) Revenues for the year ended December 31, 2005 include $5,341 of pass-through third-party charges related to one large job for personnel security. A lower level of charges was applicable for the year ended December 31, 2006.
Information concerning operations in different business segments for the three months and year ended December 31, 2006 and 2005 is presented below. Certain reclassifications have been made to the prior periods to conform to the current presentation.
Three Months Ended
December 31,
Year Ended
December 31,
2006 2005 2006 2005
(in thousands)
(unaudited) (unaudited)
Revenues
Well Intervention $ 22,505 $ 3,521 $ 76,653 $ 13,860
Response 11,240 2,352 20,377 15,677
$ 33,745 $ 5,873 $ 97,030 $ 29,537
EBITDA(a)
Well Intervention $ 4,180
$ 674 $ 16,472
$ 2,848
Response 4,766
1,270 8,303
2,429
$ 8,946 $ 1,944 $ 24,775 $ 5,277
Depreciation and Amortization (b)
Well Intervention $ 1,312 $ 72 $ 4,637 $ 310
Response 105 50 246 404
$ 1,417 $ 122 $ 4,883 $ 714
Operating Income
Well Intervention $ 2,868
$ 602 $ 11,835
$ 2,538
Response 4,661
1,220 8,057
2,025
$ 7,529 $ 1,822 $ 19,892 $ 4,563
(a) EBITDA represents earnings before interest, taxes, depreciation and amortization. See the reconciliation and rationale for this non-GAAP financial measure below.
(b) Depreciation has been charged to each segment based upon specific identification of expenses and an allocation of remaining non-segment specific expenses pro rata between segments based upon relative revenues.
BOOTS & COOTS INTERNATIONAL WELL CONTROL, INC.
RECONCILIATION BETWEEN CONDENSED CONSOLIDATED STATEMENT OF
OPERATIONS AND EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTIZATION
(in thousands)
Three Months Ended
December 31,
Year Ended
December 31,
2006 2005 2006 2005
(unaudited) (unaudited)
Net Income $4,486
$1,438
$11,165
$2,779
Income Tax Expense $2,292
$252
$5,867
$1,129
Interest Expense and Other, net $751
$132
$2,860
$655
Depreciation and Amortization $1,417
$122
$4,883
$714
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (a) $8,946
$1,944
$24,775
$5,277
(a) Earnings before Interest, Income taxes, Depreciation, Depletion and Amortization (“EBITDA”) is a non-GAAP financial measure, as it excludes amounts or is subject to adjustments that effectively exclude amounts, included in the most directly comparable measure calculated and presented in accordance with GAAP in financial statements. “GAAP” refers to generally accepted accounting principles in the United States. Non-GAAP financial measures disclosed by management are provided as additional information to investors in order to provide them with an alternative method for assessing our financial condition and operating results. These measures are not in accordance with, or a substitute for, GAAP, and may be different from or inconsistent with non-GAAP financial measures used by other companies. Pursuant to the requirements of Regulation G, whenever we refer to a non-GAAP financial measure, we also present the most directly comparable financial measure and presented in accordance with GAAP, along with a reconciliation of the differences between the non-GAAP financial measure and such comparable GAAP financial measure. Management believes that EBITDA may provide additional information with respect to the Company’s performance or ability to meet its debt service and working capital requirements.
BOOTS & COOTS INTERNATIONAL WELL CONTROL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
December 31,
2006 2005
(unaudited)
Current Assets
$52,347
$10,598
Current Liabilities (a)
$26,835
$7,033
Total Working Capital (b)
$25,512
$3,565
Total Assets $101,017
$14,767
Long-Term Debt and Notes Payable (c)
$29,492
$3,939
Total Liabilities
$62,595
$10,972
Total Stockholders’ Equity
$38,422
$3,795
PGDP is up to $2.47 sinc emy alert at $1.93. This stock still has room to grow!
IVAN is up over $2.00 since my long term alert at $1.25
IVAN -- Produces High Quality Upgraded Heavy-Oil Product with Novel Process Design
BAKERSFIELD, CA, March 13 /CNW/ - Ivanhoe Energy Inc. (NASDAQ: IVAN and TSX: IE), has successfully produced a "High Quality" product at its heavy oil upgrading (HTL) Commercial Demonstration Facility (CDF) in California. This High Quality upgraded oil was produced using an innovative operating method based on a simple, once-through configuration. This innovative operating mode represents an additional processing option for Ivanhoe Energy, and is appropriate for a number of key identified market opportunities, including bitumen production in the Athabasca Oil Sands of Western Canada.
This new approach significantly extends the flexibility of Ivanhoe Energy's HTL technology and can improve the economics in certain field applications where a significant amount of by-product energy is required. Operated on its own, the new configuration, compared with other High Quality processing configurations, will allow for the production of a higher quality product together with higher amounts of by-product energy. Operated in conjunction with other configurations, this new process allows Ivanhoe Energy to better tailor its HTL plant design configurations to market opportunities. In addition to Ivanhoe Energy's current patent protection and new patent claims that have been applied for, a patent application has been filed for this new process design.
The upgraded oil produced in this configuration has a viscosity reduction of over 99%, and had other characteristics superior to upgraded product produced in previous test runs. In addition, this configuration allows for the production of higher amounts of by-product energy than in previously demonstrated configurations, offset by slightly lower liquid volume yields. Third-party analysis of product samples from the 26-hour run announced in February confirmed the product characteristics of this configuration. Since then, a 31-hour run at the CDF has validated the mechanical stability of this processing method.
"This design, which has been the result of substantial effort, represents an attractive processing alternative for specific, identified opportunities in Western Canada and elsewhere," said Joe Gasca, Ivanhoe Energy's President and CEO. "Together with processing configurations already demonstrated, this approach provides Ivanhoe Energy with enhanced flexibility in designing our facilities to match specific market requirements."
Dr. Robert Graham, Ivanhoe Energy's Chief Technology Officer said, "This new configuration enhances the potential of our HTL process by adapting and integrating readily available, proven equipment with our simplest operating mode. This addition to our portfolio of processing techniques is further evidence of the broad flexibility and powerful scope of our core HTL technology."
Ivanhoe Energy's proprietary, patented heavy oil upgrading technology (HTL) upgrades the quality of heavy oil and bitumen by producing lighter, more valuable crude oil at lower costs and in smaller-sized plants than conventional technologies. The process also produces by-product energy that can be used to generate steam or electricity.
Conference Call
Ivanhoe Energy will host a conference call tomorrow, Wednesday, March 14, 2007, for investors and analysts at 4:30 p.m. EDT (1:30 p.m. PDT) to discuss recent announcements along with 2006 fourth quarter results and operations. The conference call may be accessed by dialing 1-866-540-8136 in Canada and the United States, or 1-416-340-8010 in the Toronto area and internationally. A simultaneous webcast of the conference call will be provided through www.ivanhoeenergy.com and www.newswire.ca/webcast. If you are unable to participate in the call it will be archived for later playback by dialing 1-416-695-5800 and entering the pass code 3215469 followed by the number sign, or via www.ivanhoeenergy.com. The archived playback will be available until April 14, 2007.
Ivanhoe Energy is an independent international oil and gas development and production company focused on pursuing long-term growth in its reserves and production using advanced technologies, including its proprietary heavy oil upgrading process (HTL). Core operations are in the United States and China, with business development opportunities worldwide. Ivanhoe Energy trades on the NASDAQ Capital Market with the ticker symbol IVAN and on the Toronto Stock Exchange with the symbol IE.
FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning the potential benefits of Ivanhoe Energy's heavy oil upgrading technology, the potential for commercialization and future application of the heavy oil upgrading technology, potential advancements to the technology and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions relating to matters that are not historical facts are forward-looking statements. Although Ivanhoe Energy believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the HTL test facility may experience technical and mechanical difficulties, the HTL process to upgrade heavy oil and bitumen may not be commercially viable, patent applications may not be approved as submitted or at all, competition and other risks disclosed in Ivanhoe Energy's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on EDGAR and the Canadian Securities Commissions on SEDAR.
PHLI -- Reports Year End Results
MATAWAN, N.J.--(BUSINESS WIRE)--
PacificHealth Laboratories, Inc. (OTCBB: PHLI), an innovative nutrition technology company, announced revenues of $6,209,846 for the year ended December 31, 2006 versus revenues of $5,444,558 for the same period in 2005. The Company reported net income applicable to common stockholders of $2,258,577, or $0.17 per share fully diluted, for the year ended December 31, 2006 compared to a net loss applicable to common stockholders of ($652,410), or ($0.06) per share, for the year ended December 31, 2005. Net income for the year ended December 31, 2006 included approximately $2,622,000 from a gain on the sale of patents and technology, net of tax effects, to Mott's LLP, a division of Cadbury Schweppes Americas Beverages ("CSAB").
Dr. Robert Portman, President and CEO of PacificHealth said, "2006 was a pivotal year for PacificHealth Labs. We completed an important licensing agreement with CSAB that has greatly improved our long-term prospects. Among the positive outcomes of the transaction was the receipt of an initial fee of $4 million that has been used to eliminate our long-term debt and strengthen our balance sheet. The agreement also provides PHLI with an exclusive, royalty-free license to continue to manufacture and market the powder and gel forms of ACCELERADE(R) and ENDUROX(R) R4(R). The CSAB agreement has enabled us to drastically reduce our marketing and advertising budget and increase funding for the development of new sports performance and weight loss products."
Dr. Portman continued, "During the past year we saw publication of important new studies confirming the superiority of ACCELERADE over conventional sports drinks. Investigators from James Madison and St. Cloud Universities presented the results of studies showing that the patented 4:1 carbohydrate protein formula found in ACCELERADE improves exercise performance, rehydration and muscle recovery. We are confident that the growing body of scientific work supporting the benefits of our products coupled with the launch of ACCELERADE RTD by CSAB will lead to increased sales opportunities both in the U.S. and internationally."
For the three-month period ended December 31, 2006, revenues were $1,113,114 compared to revenues of $735,071 for the same period in 2005. The Company recorded a loss before income taxes of ($383,301) for the three months ended December 31, 2006 compared to a loss before income taxes of ($855,946) for the same period in 2005. The Company recorded a net loss applicable to common stockholders of ($383,301), or ($0.03) per share, for the three months ended December 31, 2006 compared to a net income applicable to common stockholders of $644,578, or $0.06 per share, for the same period in 2005. For the three months and for the year ended December 31, 2005, the Company recorded a net tax benefit of $1,278,000 due to the Company's asset sale to CSAB that closed on February 22, 2006.
Dr. Portman concluded, "We are extremely positive about our prospects for the current year. CSAB is weeks away from its national multi-channel launch of ACCELERADE RTD in the United States. Finally, we recently launched SATIATRIM(R), our ready-to-drink weight loss product via www.satiatrim.com. SATIATRIM represents an exciting new class of diet products that reduces appetite by stimulating the body's natural appetite control mechanisms. SATIATRIM, by eliminating hunger and food cravings, can help individuals stay on their diet until they achieve their target weight. Most importantly, SATIATRIM can make any type of diet more effective."
About PacificHealth Laboratories, Inc.:
PacificHealth Laboratories, Inc. (PHLI.OB), a leading nutrition technology company, has been a pioneer in discovering, developing and commercializing patented, protein-based nutritional products that stimulate specific peptides involved in appetite regulation and that activate biochemical pathways involved in muscle performance and growth. PHLI's principle areas of focus include weight loss, management of Type 2 diabetes and sports performance. To learn more, visit www.pacifichealthlabs.com.
This news release and oral statements made from time to time by Company representatives concerning the same subject matter may contain so-called "forward-looking statements". These statements can be identified by introductory words such as "expects", "plans", "will", "estimates", "forecasts", "projects" or words of similar meaning and by the fact they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing new products and their potential. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known, such general economic conditions, consumer product acceptance and competitive products, and others of which are not. No forward-looking statements are a guarantee of future results or events, and one should avoid placing undue reliance on such statements.
PACIFICHEALTH LABORATORIES, INC.
BALANCE SHEETS
ASSETS
December 31, December 31,
2006 2005
------------ ------------
Current assets:
Cash and cash equivalents $2,564,038 $138,487
Accounts receivable, net 502,234 187,835
Inventories 1,913,275 1,309,779
Prepaid expenses 144,059 119,002
Deferred tax asset - 1,278,000
------------ ------------
Total current assets 5,123,606 3,033,103
Property and equipment, net 74,163 65,357
Deposits 10,895 20,393
------------ ------------
Total assets $5,208,664 $3,118,853
============ ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Notes payable $44,327 $129,944
Accounts payable and accrued expenses 960,757 1,546,958
Deferred revenue 244,197 369,068
------------ ------------
Total current liabilities 1,249,281 2,045,970
------------ ------------
Longterm liabilities:
Convertible notes payable - 500,000
------------ ------------
Stockholders' (deficit) equity:
Preferred stock:
Series A, convertible, no par value;
90,909 shares authorized, ------ issued
and outstanding at December 31, 2006;
90,909 issued and outstanding at
December 31, 2005 - 966,387
Common stock, $.0025 par value;
authorized 50,000,000 shares; issued and
outstanding: 12,776,690 shares at
December 31, 2006 and 10,267,045 shares
at December 31, 2005 31,942 25,667
Additional paid-in capital 17,867,945 15,790,335
Accumulated deficit (13,940,504) (16,209,506)
------------ ------------
3,959,383 572,883
------------ ------------
Total liabilities and stockholders'
equity $5,208,664 $3,118,853
============ ============
PACIFICHEALTH LABORATORIES, INC.
STATEMENTS OF OPERATIONS
FOR THE THREE- AND TWELVE- MONTHS ENDED DECEMBER 31, 2006 AND 2005
(UNAUDITED)
Three Months Twelve Months
Ended December 31, Ended December 31,
----------------------- -----------------------
2006 2005 2006 2005
----------- ----------- ----------- -----------
Revenues:
Net product sales $1,113,114 $735,071 $6,209,846 $5,444,558
Cost of goods sold:
Product sales 785,131 659,416 3,472,955 3,409,664
Write-down of
obsolete inventory - 93,255 - 93,255
----------- ----------- ----------- -----------
Total cost of goods
sold 785,131 752,671 3,472,955 3,502,919
----------- ----------- ----------- -----------
Gross profit 327,983 (17,600) 2,736,891 1,941,639
----------- ----------- ----------- -----------
Selling, general and
administrative
expenses 681,123 763,911 2,917,450 3,721,567
Research and
development expense 54,620 33,087 196,020 195,242
Depreciation expense 7,624 16,214 50,905 64,638
----------- ----------- ----------- -----------
743,367 813,212 3,164,375 3,981,447
----------- ----------- ----------- -----------
Loss before other
income (expense) and
income taxes (415,384) (830,812) (427,484) (2,039,808)
----------- ----------- ----------- -----------
Other income
(expense):
Gain on sale of
patents/technology,
net of expenses of
$90,795 - - 3,909,205 -
Interest income 32,448 281 96,697 4,456
Interest expense (365) (25,415) (31,416) (102,134)
----------- ----------- ----------- -----------
32,083 (25,134) 3,974,486 (97,678)
----------- ----------- ----------- -----------
(Loss) income before
income taxes (383,301) (855,946) 3,547,002 (2,137,486)
(Benefit) provision
for income taxes - (1,505,525) 1,278,000 (1,503,410)
----------- ----------- ----------- -----------
Net (loss) income (383,301) 649,579 2,269,002 (634,076)
Less preferred
dividends - (5,001) (10,425) (18,334)
----------- ----------- ----------- -----------
Net (loss) income
applicable to common
stockholders $(383,301) $644,578 $2,258,577 $(652,410)
=========== =========== =========== ===========
Net (loss) income per
common share - Basic $(0.03) $0.06 $0.19 $(0.06)
=========== =========== =========== ===========
Net (loss) income per
common share -
Diluted $(0.03) $0.06 $0.17 $(0.06)
=========== =========== =========== ===========
Weighted average
shares outstanding -
Basic 12,757,124 10,257,262 11,906,777 10,242,141
=========== =========== =========== ===========
Weighted average
shares outstanding -
Diluted 12,757,124 10,257,262 13,397,154 10,242,141
=========== =========== =========== ===========
Source: PacificHealth Laboratories, Inc.
NGEN -- Awarded Patents for Biomarkers Associated with Diabetes, Alzheimers Disease
SAN DIEGO--(BUSINESS WIRE)--
Nanogen, Inc. (Nasdaq: NGEN), developer of advanced diagnostic products, announced today that it has been issued four patents by the U.S. Patent and Trademark Office for inventions related to diabetes and Alzheimers disease biomarkers. The current patents are the most recent in a series describing biomarkers associated with these diseases.
U.S. Patent No. 7,179,610, "Complement C3 precursor biopolymer markers indicative of insulin resistance," and U.S. Patent No. 7,132,244, "Betaine/GABA transport protein biopolymer marker indicative of insulin resistance," describe the use of mass spectrometry and time-of-flight detection techniques to identify biopolymers that could potentially be used in the diagnosis of or development of therapeutics for the metabolic conditions Syndrome X and type II diabetes.
U.S. Patent No. 7,179,605, "Fibronectin precursor biopolymer markers indicative of Alzheimer's disease," and U.S. Patent No. 7,179,606, "IG heavy chain, IG kappa, IF lambda biopolymer markers indicative of Alzheimer's disease," relate to the identification of protein biomarkers for Alzheimer's disease.
For information about licensing opportunities, contact Nanogen.
About Nanogen, Inc.
Nanogen's advanced technologies provide researchers, clinicians and physicians worldwide with improved methods and tools to predict, diagnose, and ultimately help treat disease. The company's products include real-time PCR reagents, the NanoChip(R) electronic microarray platform and a line of rapid diagnostic tests. Nanogen's ten years of pioneering research involving nanotechnology holds the promise of miniaturization and continues to be supported for its potential for diagnostic and biodefense applications. For additional information please visit Nanogen's website at www.nanogen.com.
Forward-Looking Statement
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including whether patents owned or licensed by Nanogen will be developed into products, whether the patents owned by Nanogen offer any protection against competitors with competing technologies, whether products under development can be successfully developed and commercialized, whether results reported by our customers or partners can be identically replicated, and other risks and uncertainties discussed under the caption "Factors That May Affect Results" and elsewhere in Nanogen's Form 10-K or Form 10-Q most recently filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Nanogen disclaims any intent or obligation to update these forward-looking statements.
Source: Nanogen, Inc.
PacificHealth Laboratories Appoints Two New Directors
Monday February 26, 9:00 am ET
Announces Completion of $450,000 Stock Purchase Transaction
MATAWAN, N.J.--(BUSINESS WIRE)--PacificHealth Laboratories, Inc. (OTCBB: PHLI - News), a nutrition technology company, announced today the appointment of Adam Mizel, Managing Principal of Aquifer Capital Group, LLC, and Marc Particelli, Chairman of the Board of Coactive Marketing Group (NASDAQ: CMKG - News), to its Board of Directors. In addition, the Company announced the completion of a $450,000 stock purchase transaction of newly issued shares of common stock at $1.85 per share to be used for new ecommerce initiatives. The per-share price was based on the 10-day average closing price from February 15, 2007, the date the Board of Directors approved the transaction. Mr. Mizel, through the Aquifer Opportunity Fund, L.P. that he manages, and Mr. Particelli were the purchasers in the transaction. With the addition of Messrs. Mizel and Particelli, PacificHealth has expanded its Board from four to six members.
Dr. Robert Portman, Chairman and CEO of PHLI said, "We are pleased to welcome Adam and Marc to our Board of Directors and look forward to their positive contributions. Both of these individuals bring to PacificHealth strong backgrounds and business expertise that will be extremely valuable to the Company as it continues to build market share and introduce new products. Specifically, Adam has spent a majority of his career working in private equity and is experienced in providing both capital and strategic counsel to growth companies. Marc has expertise in interactive marketing communications as well as a strong operational and management background. Adam and Marc will have an immediate impact on PacificHealth."
Mr. Mizel, age 37, has been the Managing Principal of Aquifer Capital Group, LLC and the General Partner of the Aquifer Opportunity Fund, L.P., an investment fund that takes a private equity approach to investing in small capitalization public companies, since September 2005. He was previously Managing Director and Chief Operating Officer of Azimuth Trust, LLC, an alternative asset management firm from 2001 until 2005. Earlier, Adam was a partner at Capital Z Partners, L.P., a private equity and alternative investment firm, and Managing Director at Zurich Centre Investments, Inc., the North American private equity unit of Zurich Financial Services Group. Adam began his investment career at Morgan Stanley Capital Partners in 1991.
Marc Particelli, age 61, has been Chairman of the Board of Coactive Marketing Group (NASDAQ: CMKG - News), an integrated marketing communications agency, since July 2006. He also served as interim President and Chief Executive Officer of Coactive from July 2006 through
October 2006. From August 2005 until March 2006, Marc was the Chief Executive Officer of TSM Corporation, a telecommunications company serving the Hispanic market. He was Chairman of the Board, President and Chief Executive Officer of Modem Media, an interactive marketing services firm, from January 1991 until its acquisition by Digitas Inc. in October 2004. Earlier, Marc was a partner at Oak Hill Capital Management, a private equity investment firm, and managing director at Odyssey Partners L.P., a hedge fund. Prior to entering the private equity business, he spent 20 years with Booz Allen where he helped create the Marketing Industries Practice and led its expansion across Europe, Asia and South America. Marc also currently serves as a director of, and investor in, several private companies and as an advisor to several private equity firms.
About PacificHealth Laboratories, Inc.:
PacificHealth Laboratories, Inc. (PHLI.OB), a leading nutrition technology company, has been a pioneer in discovering, developing and commercializing patented, protein-based nutritional products that stimulate specific peptides involved in appetite regulation and that activate biochemical pathways involved in muscle performance and growth. PHLI's principle areas of focus include weight loss, management of Type 2 diabetes and sports performance. To learn more, visit www.pacifichealthlabs.com.
This news release and oral statements made from time to time by Company representatives concerning the same subject matter may contain so-called "forward-looking statements". These statements can be identified by introductory words such as "expects", "plans", "will", "estimates", "forecasts", "projects" or words of similar meaning and by the fact they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing new products and their potential. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known, such general economic conditions, consumer product acceptance and competitive products, and others of which are not. No forward-looking statements are a guarantee of future results or events, and one should avoid placing undue reliance on such statements.
Contact:
PacificHealth Laboratories
Stephen Kuchen, 732-739-2900 Ext. 603
skuchen@pacifichealthlabs.com
--------------------------------------------------------------------------------
Source: PacificHealth Laboratories, Inc.
IWEB news
http://biz.yahoo.com/bw/070226/20070226005128.html?.v=1
IceWEB Offers Free IceMAIL with Hosted BlackBerry Enterprise Server
Monday February 26, 8:30 am ET
Hosted Microsoft Exchange Service & Hosted BlackBerry Enterprise Server Free for 90 Days
HERNDON, Va.--(BUSINESS WIRE)--IceWEB, Inc., www.IceWEB.com (OTCBB:IWEB - News), a leading provider of subscription based Hosted Microsoft Exchange services, enterprise software and network security infrastructure services, announced that the company will offer its IceMAIL Hosted Microsoft Exchange Email Service and Hosted BlackBerry® Enterprise Server service free of charge for 90 days to all existing and new IceMAIL subscribers.
Through the limited time offer, all current IceMAIL subscribers who wish to connect a BlackBerry handset from Research In Motion (RIM) (Nasdaq: RIMM - News) with their IceMAIL account will receive three free months of the Hosted BlackBerry Enterprise Server service. New customers joining IceMAIL and activating Hosted BlackBerry Enterprise Server service will receive free 90 days of both IceMAIL and Hosted BlackBerry Enterprise Server. There are no activation fees, no term commitments, and no cancellation fees associated with IceMAIL. Customers may take advantage of this offer at IceWEB's website, www.IceWEB.com or by calling the company at 1-866-ICEWEB1.
IceMAIL with the Hosted BlackBerry Enterprise Server service is an ideal way for small and medium business customers to get more from their limited resources. Some of the benefits of accessing email and business applications wirelessly include:
Improving communication between team members to streamline operations
Turning downtime into productive time and getting more done in a day
Getting out of the office without being cut off from customers and co-workers
Keeping ahead of the competition
Gary Dunham, VP of Corporate Development for IceWEB said of the offer, "This unprecedented offer of free IceMAIL and Hosted BlackBerry Enterprise Server gives BlackBerry users full wireless access to their Microsoft Exchange account, getting access to robust email messaging, scheduling, and contact management while on the go. IceMAIL and BlackBerry Enterprise Server software work in concert to keep BlackBerry users up to date with mobile access to their communications, business information, scheduling and contacts. IceMAIL's Hosted Microsoft Exchange subscription service, normally offered at $9.95 per month per mailbox, also extends email and scheduling functionality to users' office and home computers, as well as to any internet connected computer, all the while keeping everything 'in-sync' and seamlessly up to date.
"By offering free IceMAIL and free BlackBerry Enterprise Server services to our customers, IceWEB is once again working to reduce the cost of entry for small and medium businesses." Dunham continued, "IceWEB's mission is to provide world class services to the SMB market-space at a price they can afford. For a small business to build an internal network that would give them the same services that this combined offering provides could cost in excess of thirty thousand dollars*. We believe that small businesses would rather spend that money growing their business while using IceWEB as a valued partner to provide them with reliable, secure, and robust hosted services."
About IceWEB
IceWEB, Inc., (OTCBB:IWEB - News), utilizes a hosted software services model that brings technologies normally reserved for large corporations to the small business customer. Small businesses can now have the benefits of these more advanced software systems for a low monthly subscription price instead of large up-front capital expenses. IceWEB also provides network infrastructure solutions services to our enterprise and Government customers with a specific focus on network security, authentication, and PKI encryption systems. Founded in 2000, IceWEB is headquartered in Herndon, VA, and serves customers in the public and private sectors. For more information, please visit http://www.IceWEB.com or http://www.IceMAIL.com.
*estimated cost of purchasing, installing and maintaining an in-house Microsoft Exchange Server and BlackBerry Enterprise Server
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to business conditions and the amount of growth in the computer industry and general economy, competitive factors, and other risks detailed from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-K and its quarterly reports on Forms 10-Q. The Company does not undertake any obligation to update forward-looking statements.
The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. All other trademarks and brand names are the property of their respective companies.
Contact:
IceWEB, Inc., Herndon
Editorial Contact:
Gary Dunham, 703-344-0951
gdunham@iceweb.com
or
Investor Contact:
Tel: 703-964-8000 or 800-964-8850 ext 0961
investor@IceWEB.com
or
Allen & Caron Inc
Joe Allen, 212-691-8087
joe@allencaron.com
--------------------------------------------------------------------------------
Source: IceWEB, Inc.
Boots & Coots Hires Director of Investor Relations/Communications
Wednesday February 21, 11:25 am ET
HOUSTON--(BUSINESS WIRE)--Boots & Coots International Well Control, Inc. (Amex:WEL - News), the premier pressure control company for the oil and gas industry, announced it has hired Jennifer Tweeton as director, investor relations and communications. Ms. Tweeton comes from Vollmer Public Relations, Boots & Coots' public relations agency of record.
"We remain dedicated to direct shareholder communications, and as we've grown it has become more efficient for us to provide these communications in-house," commented Jerry Winchester, Chief Executive Officer of Boots & Coots. "Jennifer has worked on our account for the past several years and already understands our processes. Now as part of the Boots & Coots team full time, she can help improve and expand our communications initiatives."
Ms. Tweeton has 20 years of experience working for publicly traded companies in the areas of financial and strategic planning and investor relations. For the past seven years she worked for Vollmer Public Relations, a Houston-based integrated communications company. At Vollmer, she headed the agency's Investor Relations practice, where Boots & Coots has been a client since 2003. Prior to Vollmer, Ms. Tweeton held investor relations and corporate communications management positions with American Residential Services and US Delivery Systems, as well as various corporate and financial management roles with Team, Inc., and Browning-Ferris Industries.
About Boots & Coots
Boots & Coots International Well Control, Inc., Houston, Texas, provides a suite of integrated oilfield services centered on the prevention, emergency response and restoration of blowouts and well fires as well as hydraulic workover/snubbing and hot tapping services around the world. Boots & Coots' proprietary risk management program, WELLSURE®, combines traditional well control insurance with post-event response as well as preventative services, giving oil and gas operators and insurance underwriters a medium for effective management of well control insurance policies. The company's SafeGuard program, developed for regional producers and operators sponsored by Boots & Coots, provides dedicated emergency response services, risk assessment and contingency planning, and continuous training and education in all aspects of critical well management. For more information, visit the company's web site at www.boots-coots.com.
Contact:
Boots & Coots International Well Control, Inc.
Jennifer Tweeton, 281-931-8884
jennifert@boots-coots.com
--------------------------------------------------------------------------------
Source: Boots & Coots International Well Control, Inc.
PacificHealth Laboratories Updates Launch of ACCELERADE(R) Ready-to-Drink
Wednesday February 21, 9:59 am ET
MATAWAN, N.J.--(BUSINESS WIRE)--PacificHealth Laboratories, Inc. (OTCBB: PHLI - News), a nutrition technology company, said that at an Investors Conference held in London yesterday, Todd Stitzer, CEO of Cadbury Schweppes, officially announced the national multi-channel launch of ACCELERADE RTD. Product will be shipped in the second quarter. ACCELERADE is part of a major innovation drive by Cadbury Schweppes. Because of its proven benefits, Stitzer described ACCELERADE as the "holy grail" for serious exercisers. To hear the Feb 20 presentation, go to www.cadburyschweppes.com/EN/InvestorCentre/Presentations/.
ACCELERADE was part of an asset purchase agreement between PacificHealth Laboratories and Motts, LLP, a division of Cadbury Schweppes Americas Beverage ("CSAB"). Under the terms of the agreement PHLI received an upfront payment of $4 million, a royalty payment for a finite period of time and a royalty-free license to continue selling ACCELERADE and ENDUROX R4® in powder and gel forms.
Dr. Robert Portman, Chairman and CEO of PHLI said, "We have been working closely with CSAB for the past year in coordinating our efforts. We have completely revamped all of the ACCELERADE powder and ACCEL GEL® packaging so that it is consistent with the new RTD label. Additionally, we have instituted an aggressive program involving the placement of permanent point of purchase displays in leading sports specialty stores. I anticipate that the marketing and advertising efforts by Cadbury in supporting the ACCELERADE brand will have a significant benefit to powder and gel sales. We are implementing a number of programs to fully take advantage of this opportunity."
ACCELERADE, developed by PacificHealth Laboratories, is the first sports drink that contains a patented 4:1 ratio of carbohydrate to protein. Fifteen studies have now been conducted documenting the benefits of a 4:1 ratio in terms of improved endurance, enhanced rehydration, faster muscle recovery and less post-exercise muscle damage. For more information visit www.accelerade.com.
About PacificHealth Laboratories, Inc.:
PacificHealth Laboratories, Inc. (PHLI.OB), a leading nutrition technology company, has been a pioneer in discovering, developing and commercializing patented, protein-based nutritional products that stimulate specific peptides involved in appetite regulation and that activate biochemical pathways involved in muscle performance and growth. PHLI's principle areas of focus include weight loss, management of Type 2 diabetes and sports performance. To learn more, visit www.pacifichealthlabs.com.
This news release and oral statements made from time to time by Company representatives concerning the same subject matter may contain so-called "forward-looking statements". These statements can be identified by introductory words such as "expects", "plans", "will", "estimates", "forecasts", "projects" or words of similar meaning and by the fact they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing new products and their potential. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known, such general economic conditions, consumer product acceptance and competitive products, and others of which are not. No forward-looking statements are a guarantee of future results or events, and one should avoid placing undue reliance on such statements.
Contact:
PacificHealth Laboratories
Stephen Kuchen, 732-739-2900 Ext. 603
skuchen@pacifichealthlabs.com
--------------------------------------------------------------------------------
Source: PacificHealth Laboratories, Inc.
Impart Media Group and Design Forum Providing Innovative, Multi-Theme Digital Signage Solutions in Select AT&T Locations
Tuesday February 20, 8:00 am ET
Successful Co-Branding and Cross Marketing in the Sports Facilities Sector Space Is Drawing New Customers for the Major Telecom Brand
SEATTLE, WA--(MARKET WIRE)--Feb 20, 2007 -- Impart(TM) Media Group, Inc. (OTC BB:IMMG.OB - News), a provider of end-to-end networked digital media solutions for the enhanced delivery of information, brand marketing, merchandising, and advertising, and Design Forum, one of the nation's top retail consultancies, are providing turnkey placement of custom advanced, multi-thematic digital signage systems for AT&T. The collaborative effort encompasses the optimization of retailing space with multi-theme product end cap and fixture displays, enhanced with topical content -- supported with complete equipment integration, installation, content management, network monitoring, and onsite service.
Source: Impart Media Group, Inc.
Utilizing a unique interior layout and strategically placed large and small flat panel LCD display screens, all powered by multiple Impart IQ Box(TM) media players and an onsite Impart IQ(TM) server, Impart has outfitted AT&T leased properties located at Busch Stadium in St. Louis, the North Park Mall and American Airlines Center in Dallas, the AT&T Center in San Antonio, the Staples Center in Los Angeles, the United Center in Chicago, the Bradley Center in Milwaukee plus various Red Skye AT&T/Cingular stores in Kansas & Missouri, one AT&T/Cingular store in California, and a mobile AT&T Tour Trailer.
According to J. Scott Campbell, Impart's Vice President of Creative & Product Design, "AT&T's objective was to unify brands in a concept store and migrate results to all AT&T presences and alternative store environments... that mission was accomplished with very tangible results."
About Impart Media Group, Inc.
Impart Media Group, Inc., headquartered in Seattle, Washington, is a rapidly expanding digital signage leader in the emerging out-of-home media sector. The company's mission statement: "We provide end-to-end networked digital media solutions for the enhanced delivery of information, merchandising, brand marketing, and advertising."
The company is growing through a consolidation strategy that includes acquiring the industry's best and brightest talent and developing the most advanced solutions to create a broad, integrated one-stop communications media company focused on digital signage and networked advertising offerings for leading brands and environments in industries such as retail, grocery, banking, restaurants, hospitality, government, airports, and public transit spaces, among others. The company's digital media solutions enable the simultaneous delivery of video, stills, text, web, and animation content to a variety of remote audiences in real time, allowing for immediate customization of messages through a centralized network operations center or secure web portals. For more information, please visit www.impartmedia.com or call (800) 544-3343.
About Design Forum
Ranked as the one of nation's top retail consultancies, Design Forum is headquartered in Dayton, Ohio with offices in Detroit, London, Los Angeles, New York, Paris, and San Francisco. Design Forum offers a comprehensive range of integrated services including strategy, research, design, branding architecture, procurement and implementation. Design Forum has produced award-winning designs for an international client list that includes Applebee's Best Buy, Washington Mutual, Wild Oats, Calphalon, Subway, Frontgate, Land Rover, Yankee Candle, Ann Taylor and Porsche. For more information visit www.designforum.com or contact Beth Ling at 937.312.8003.
Design Forum is a part of Interbrand, an Omnicom company [www.omnicomgroup.com]. Omnicom is a leading global advertising, marketing and corporate communications company. Omnicom's branded networks and numerous specialty firms provide advertising, strategic, media planning, and buying, direct and promotional marketing, public relations and other communications services to over 5,000 clients in more than 100 countries.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995. This news release may contain forward-looking statements relating to the success of any of the Company's strategic initiatives, the Company's growth and profitability prospects, the benefits of the Company's products to be realized by customers, the Company's position in the market and future opportunities therein, the deployment of Impart products by customers, and future performance of Impart Media Group. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC). You should not place undue reliance upon any such forward-looking statements, which are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.
Image Available: http://www.marketwire.com/mw/frame_mw?attachid=427876
Contact:
CONTACT:
Rick Lutz
LC Group
(404) 261-1196
LCGroup@mindspring.com
--------------------------------------------------------------------------------
Source: Impart Media Group, Inc.
Nanogen to Host Fourth Quarter Conference Call and Webcast on February 20, 2007
Monday February 19, 8:00 am ET
SAN DIEGO--(BUSINESS WIRE)--Nanogen, Inc. (Nasdaq:NGEN - News), developer of advanced diagnostic products, will host a conference call on Tuesday, February 20, 2007 at 4:30 p.m. Eastern (1:30 p.m. Pacific) to discuss 2006 fourth quarter financial results. The financial results press release will be issued at close of market on February 20. Interested investors and others may participate in the conference call by dialing 877-407-9205 for US/Canada participants and 201-689-8054 for international participants.
Audio of management's presentation will be available via live webcast on the investor relations section of Nanogen's corporate website at www.nanogen.com, and will be archived for 90 days. A digital recording of the call will also be available for 48 hours, beginning two hours after the completion of the conference call on February 20, and can be accessed via telephone at 877-660-6853 for US/Canada participants and (201) 612-7415 for international participants. The account number, 286, along with the conference ID, 231215, will be required to listen to the playback.
About Nanogen, Inc.
Nanogen's advanced technologies provide researchers, clinicians and physicians worldwide with improved methods and tools to predict, diagnose, and ultimately help treat disease. The company's products include real-time PCR reagents, the NanoChip® electronic microarray platform and a line of rapid, point-of-care diagnostic tests. Nanogen's ten years of pioneering research involving nanotechnology holds the promise of miniaturization and continues to be supported for its potential for diagnostic and biodefense applications. For additional information please visit Nanogen's website at www.nanogen.com.
Nanogen Forward-Looking Statement
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including whether patents owned or licensed by Nanogen will be developed into products, whether the patents owned by Nanogen offer any protection against competitors with competing technologies, whether products under development can be successfully developed and commercialized, whether results reported by our customers or partners can be identically replicated, and other risks and uncertainties discussed under the caption "Factors That May Affect Results" and elsewhere in Nanogen's Form 10-K or Form 10-Q most recently filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Nanogen disclaims any intent or obligation to update these forward-looking statements.
Contact:
Nanogen, Inc.
Robert Saltmarsh, Chief Financial Officer, 858-410-4600
or
Suzanne Clancy, Corporate Communications, 858-410-4688
sclancy@nanogen.com
or
Porter Novelli Life Sciences
Kim Richards, Media & Investor Relations, 619-849-5377
krichards@pnlifesciences.com
--------------------------------------------------------------------------------
Source: Nanogen, Inc.
AUCAF -- Muthero 7 Well Strikes Oil on Muthero Oil Field on ACOR's ORRI Inspired by the Muthero 3 Oil Discovery with Approx. IP 1030 BOPD
Tuesday February 20, 9:11 am ET
CISCO, Texas--(BUSINESS WIRE)--Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF - News) is pleased to announce that the JV partner of ATP 267 advises that the Muthero 7 well in southwest Queensland Australia has been cased and suspended as a future Murta oil producer on ACOR's ORRI.
The Muthero 7 well spudded on February 8th and was drilled to a Total Depth of 3,759 feet. Oil shows were recorded in the Murta Member and the well was cased and suspended as a successful oil well.
More Drilling on ACOR's ORRI
The Muthero 4 well spudded on February 13th and is to be drilled to a total depth of 4,698 feet.
The Muthero 4 well is the 2nd of four (4) wells planned to be drilled on the Muthero oil field and is designed to appraise the Murta zone and Birkhead oil pool discovered in the Muthero 3 well in December 2005 on ACOR's ORRI.
The Muthero 3 well was drilled to a total depth of 4692 feet. Oil shows were encountered in the Birkhead Formation and Murta Member during drilling. DST-1 flowed oil on final flow at 1030 BOPD through a 1/2" choke at 25 psi. The Muthero 3 well commenced production at around 525 BOPD in February 2006 on ACOR's ORRI.
100% Success Ratio - 1st five (5) Wells out of eleven (11) Strike Oil
The eleven (11) well drilling program on ATP 267 began on December 31st 2006 with the spudding of the Dilkera North 1 well. The Thungo 9 well was the 2nd well, it spudded on January 9th 2007. The 3rd well was the Thungo 10 well, it spudded on January 15, 2007. The 4th well was the Thungo 13 well, it spudded on January 21st, 2007. The 5th well was the Muthero 7 well, it spudded on February 8th, 2007.
All five (5) wells were cased and suspended as future Murta oil producers on ACOR's ORRI.
The wells are drilled in 6 to 10 days and connection of successful wells is targeted in 40 to 60 days. The successful wells will be completed and connected to existing oil production facilities, which will be upgraded to handle the anticipated increased production volumes on ACOR's ORRI.
About ATP 267:
ATP 267, including Petroleum License (PL) 33, 50 & 51 consists of approximately 220,800 gross acres and is located in Queensland Australia in the prolific Cooper/Eromanga Basin. The western border of ATP 267 is located approximately 5 miles from the Jackson Oil Field. The Jackson Oil Field is Australia's 2nd largest onshore oil field and has reserves in excess of 40,000,000 barrels of good quality crude oil or approximately $2.2 Billion Dollars at current crude market prices.
Three wells were drilled on ATP 267 during the 2005 drilling program; Muthero 3, Winna 4 and Currambar 1. All three wells were successful on ACOR's ORRI.
ACOR management is excited about the discoveries made in 2005 on ATP 267 and is very excited about the 100% successful beginning of this eleven (11) well drilling program and the potential revenue that could be generated for the company.
ACOR owns 17.15% of 1% ORRI under ATP 267 which include Petroleum License 33, 50, & 51.
About Australian-Canadian Oil Royalties Ltd.:
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait.
ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interests and overriding royalty interests are located offshore & onshore in the best producing basins.
Visit our website at www.aussieoil.com.
Disclaimer:
Except for historical information contained herein, the statements released are forward-looking statements that are made pursuant to the provision of the Private Securities Litigation Reform Act of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
Contact:
Australian-Canadian Oil Royalties Ltd.
Investor Relations, 254-442-2638
acor@classicnet.net
--------------------------------------------------------------------------------
Source: Australian-Canadian Oil Royalties Ltd.
uWink Issues Stockholder Letter Detailing Progress of Business
Tuesday February 20, 8:00 am ET
LOS ANGELES--(BUSINESS WIRE)--uWink, Inc. (OTCBB:UWNK - News), a publicly-held digital entertainment company, today provided shareholders with a letter from CEO Nolan Bushnell updating them on the progress of the business since the opening of the company's first restaurant.
"Today, I am very proud to announce that we believe that uWink has delivered strong proof of concept for the next innovation in the restaurant industry," stated Nolan Bushnell, CEO.
Following is the full text of the letter:
February 20, 2007
Dear Shareholder,
I wanted to personally thank you for your support and give you an
assessment of the progress of uWink and our first restaurant. Today, I
am very proud to announce that we believe that uWink has delivered
strong proof of concept for the next innovation in the restaurant
industry.
Since we opened the doors to our prototype restaurant in Woodland
Hills, California on October 16, 2006, our monthly revenues have grown
steadily from $30,000 in October to $87,000 in November to $161,000 in
December to $185,000 in January '07. We expect to continue our revenue
growth as we layer in additional capacity and software designed to
create activities that will add revenue streams and fill the
restaurant during traditionally slow times.
With little promotion, we are currently serving approximately 3,000 -
3,500 guests per week in Woodland Hills, and these guests are playing
between 50,000 and 60,000 games per week on our terminals. Our
customers' level of engagement with our entertainment offerings has
far exceeded our expectations.
The uWink experience - the ambience, the food, the fun, the service -
is attracting new customers everyday. We are currently running one
hour-plus wait times on weekends. We will be adding additional inside
and outside seating in the next few weeks to meet the current and
growing crowds.
Just to note, all of this has been accomplished in LESS THAN FOUR
MONTHS, with word of mouth being our main promotion vehicle. I'm very
proud that we have been able to prove our concept, despite opening our
first restaurant in a historically difficult restaurant location, and
that we have become a destination for so many.
And, as with any innovative endeavor, we are working to improve things
in response to customer feedback. In the next few weeks we will be
making significant changes to our ordering process to give our
customers more flexibility and control over when and how their orders
are sent to the kitchen. We are also making improvements to the
checkout process and plan to make noteworthy changes to our table,
chair and terminal designs in our next location.
Over the next several weeks we plan on rolling out the next phase in
uWink game play, which will allow group competitions and tournament
play. Stay tuned! We believe this is a very important addition to the
overall uWink experience. To help build the uWink community and to
better communicate the uWink experience, we will be unveiling a
significant upgrade to our website. This new website is designed to be
flexible enough to grow along with us, and robust enough to provide
our fans, shareholders, franchisees and customers all the information,
community and resources they need.
Our food reviews from the press and customers have been excellent, a
testament to our Executive Chef Greg Schroeppel's menu and execution.
Following are quotes from some of the press food reviews:
"The food is designed to be a primary draw. The globally inspired
menu of uWink includes such appetizers as Thai-style chicken
lettuce cups, barbecued pork sliders and hummus with olive
tapanade served with fried yucca chips."
- LISA JENNINGS, NATION'S RESTAURANT NEWS
"Burger fanciers can enjoy a field day here, being able to make
their half-pounder just about any way they like it. "Build your
own" invites the alluring option. Just touch the screen and you
get what you want here. Even your horoscope."
- LARRY LIPSON, RESTAURANT REVIEWER LA DAILY NEWS
We plan on growing through a combination of company-owned and
franchised stores. We are currently in active negotiations on a number
of additional restaurant sites in the Los Angeles and greater
California areas. In addition, we are in various stages of
negotiations with a number of potential franchisees. While we cannot
guarantee that we will be able to secure additional sites or sell
franchises, we hope to have some definitive news for you in the coming
weeks and months.
Overall, I am extremely impressed with where we are to date. I'm proud
to be part of the great team that has effectively transformed this
innovative concept into a successful reality. Thank you for your
support and I look forward to a prosperous future.
Sincerely,
Nolan Bushnell
CEO
uWink, Inc.
The letter to the shareholders can also be accessed via uWink's blog: http://blog.uwink.com.
uWink, Inc. is a publicly-held digital entertainment company based in Los Angeles, California that develops interactive entertainment for restaurants, bars, and mobile devices. Led by entertainment and restaurant visionary Nolan Bushnell, founder and former CEO of Atari and Chuck E. Cheese (NYSE: CEC - News), uWink is currently building a new entertainment dining experience called uWink that leverages uWink's proprietary network and entertainment software. For more information visit: www.uwink.com.
Contact:
uWink
For general company information:
Alissa Bushnell, 415-235-9532
alissa@uwink.com
For investor relations information:
Nancy Nino
nancyn@uwink.com
or
104 West Partners PR
For media relations information:
Ashley Cox Cohen, 303-522-0783
ashley.cohen@104degreeswest.com
--------------------------------------------------------------------------------
Source: uWink, Inc.
ISCR looking good too. CMF through the roof!
It will be a $3.00 stock real soon! Very undervalued man!
IWEB had great PR Friday - IceWEB, Inc. Reports 70 Percent Year-over-Year Growth in Revenue for Its First Quarter Fiscal 2007
Closed 0.69, up from 0.60!
http://biz.yahoo.com/bw/070216/20070216005529.html?.v=1
Z, what the heck is up with DKGR - are we waiting til April now ? This is becoming ridiculous how this is being dragged out - what is up ???? Thanks
RediClinic Selects Impart Media Group as Digital Signage and Interactive Media Provider
Wednesday February 14, 8:00 am ET
RediClinic Plans to Expand to Over 500 Locations by 2009 With Both Large and Small Format LCD Screens Powered by Impart IQ Box(TM)
SEATTLE, WA--(MARKET WIRE)--Feb 14, 2007 -- Impart(TM) Media Group, Inc. (OTC BB:IMMG.OB - News), a provider of end-to-end networked digital media solutions for the enhanced delivery of information, brand marketing, and advertising, announced today that RediClinic LLC has selected Impart as their digital signage provider.
Source: Impart Media Group, Inc.
The solution created for RediClinic is powered by the innovative Impart IQ(TM) media platform, an integrated suite of hardware, proprietary firmware, and software that is features-laden and functionally unique in the digital signage industry.
For each RediClinic installation, Impart will provide two (2) Impart IQ Box(TM) players. Impart will also supply web-hosting, content management, and network monitoring monthly services for the RediClinic digital television system, as well as ongoing content creation.
The two companies are also working on an interactive solution that will eventually be expanded into customer learning experiences throughout RediClinic's national network.
RediClinics are staffed by certified nurse practitioners who work with local physicians to diagnose, treat, and prescribe medications for common medical conditions, such as strep throat and upper respiratory infections. They also administer a wide range of preventive services, including health screening tests, vaccinations, and back-to-school & sports physicals. Recent research shows that 98 percent of patients rate the care they receive at RediClinic as outstanding. RediClinics with digital signage are currently located in Houston and Austin in Texas, Northwest Arkansas, and Richmond, Virginia.
RediClinics are open seven days a week, with extended hours on weekdays. Adults and children over age two are welcome, no appointments are necessary, and a typical visit takes about 15 minutes.
Impart Chairman and CEO Joseph F. Martinez stated, "We are extremely pleased with RediClinic's decision to select Impart as their digital signage provider. The Impart IQ(TM) solution fits their needs perfectly and since we'll be managing and hosting the network -- they will have peace of mind that the system is always operating to its fullest capability. RediClinic is a great example of a client who wants to use digital signage as a way to attract customers and enhance their environment, as well as provide a tool for customers to learn about services they currently offer."
About Impart Media Group, Inc.
Impart Media Group, Inc., headquartered in Seattle, Washington, is a rapidly expanding digital signage leader in the emerging out-of-home media sector. The company's mission statement: "We provide end-to-end networked digital media solutions for the enhanced delivery of information, merchandising, brand marketing, and advertising."
The company is growing through a consolidation strategy that includes acquiring the industry's best and brightest talent and developing the most advanced solutions to create a broad, integrated one-stop communications media company focused on digital signage and networked advertising offerings for leading brands and environments in industries such as retail, grocery, banking, restaurants, hospitality, government, airports, and public transit spaces, among others. The company's digital media solutions enable the simultaneous delivery of video, stills, text, web, and animation content to a variety of remote audiences in real time, allowing for immediate customization of messages through a centralized network operations center or secure web portals. For more information, please visit www.impartmedia.com or call (800) 544-3343.
About RediClinic
Since 1989, RediClinic (formerly known as InterFit Health) has provided people with easy access to high quality, convenient and affordable healthcare services. Today the company is the largest provider of retail health screening services in the United States and is a leader in convenient care. The company also provides health screenings, flu shots and other health-related services to major employers. For more information, please visit www.rediclinic.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking statements relating to the success of any of the Company's strategic initiatives, the Company's growth and profitability prospects, the benefits of the Company's products to be realized by customers, the Company's position in the market and future opportunities therein, the deployment of Impart products by customers, and future performance of Impart Media Group. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC). You should not place undue reliance upon any such forward-looking statements, which are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.
Image Available: http://www.marketwire.com/mw/frame_mw?attachid=424083
Contact:
CONTACT:
Rick Lutz
LC Group
(404) 261-1196
LCGroup@mindspring.com
Paramount Gold to Acquire 100% of the Cotaruse Cu-Ag-Au Property in Southern Peru
Thursday February 1, 8:30 am ET
LIMA, Peru--(BUSINESS WIRE)--Paramount Gold Mining Corp. (OTC:PGDP - News; Frankfurt:P6G - News; WKN:A0HGKQ) and its Peruvian subsidiary, Compania Minera Paramount SAC, are pleased to announce that they have signed a Letter of Intent with a private owner to acquire a 100% interest in the Cotaruse property, located in the Department of Apurimac, Southern Peru.
The project consists of a 1,000 hectare mining concession with main infrastructures in place, including highway, electricity and water, which are readily accessible within 5 kms of the center of the property.
Alain Vachon, Manager of Exploration in South America commented, "We are very pleased to acquire the Cotaruse property, which has the potential to host a medium sized bulk tonnage open pit Cu + Ag +/-Au skarn deposit. Surface sampling to date shows average grades of greater than1% copper, 20 g/t Ag and 0.25 g/t Au. The property is ideally situated very close to major infrastructures including electricity and a highway. Helping matters is the fact that the locals in the area are well acquainted with and generally receptive to mining. We are currently conducting legal and technical due diligence that we expect will lead to the signing of a formal agreement in early March, at which point field work will commence."
Paramount Gold's due diligence thus far has identified four distinct mineralized areas on the property that could be forming one single mineralized zone, taking into account the effect of overburden cover and sparse sampling completed to date. Copper mineralization is primarily composed of Cu-oxide, chalcopyrite, malachite, chalcocite and azurite. The mineralization appears to be strongest nearest the granite contact, and weaker to the southwest closer to the core of the fold. Based on a compilation of 129 samples taken in 2004 by the previous owner and 24 samples collected by Paramount, the mineralized zones yielded the following average grades:
Zone 1 - The Northeast Zone; 2.56% Cu, 20 g/t Ag and 0.12 g/t Au
Zone 2 - The Southern Zone ; 1.15% Cu, 9.7 g/t Ag and 0.06 g/t Au
Zone 3 - The South Center Zone; 1.06% Cu, 5.7 g/t Ag and 0.095 g/t Au
Zone 4 - The West Zone; 0.35% Cu, 3.18 g/t Ag and 0.8 g/t Au
Cotaruse is located along the northern edge of the Inflection of Abancay where the volcanic rocks are host to an unprecedented amount of hydrothermal activity and mineralization within the district. The property lies at the north edge of the Selene - Explorador mining camp, which covers a crudely circular area measuring 22 kilometers in diameter. Several Au-Ag low and high sulphidation deposits are currently being mined in this area by Horschild, Orovega and Buenaventura. Considering the multitude of other veins and structures in the camp aside from the aforementioned, the amount of hydrothermal activity and the particular structural setting prevailing in this area, it can be said that the Cotaruse property has a very favorable metallogenical address.
The Cotaruse Project is mainly occupied by limestones of the Ferrobamba formation that form a tight nearly vertical anticline that is dominant across a kilometer in the center of the property. The limestones are intruded by some fresh granodiorite. Alteration is restricted to limestones and is observed as intense dark green diopside-garnet skarn development which is traced over a minimum distance of 1.2 kilometers in length, with widths exceeding 200 meters and between 250 to 400 meters of vertical extent.
In order to acquire a 100% interest, Paramount will pay the owner, Ing Miguel Picasso, an aggregate amount totaling US$3,000,000 and will incur exploration expenditures of US$2,000,000 over a period of 4 years. The first year's payment is US$150,000, followed by payments of US$750,000 in year two, US$800,000 at the end of year three and US$1,300,000 at the end of year four. The owner will also receive a 2.5% NSR of which 1.5% can be bought back at any time by Paramount for a lump sum payment of US$ 2,000,000.
Quality Control Person
Alain Vachon, P.Eng., Manger of Exploration, South America, is acting as the qualified person and has prepared the detail and review with respect to this news release.
About Paramount Gold
Paramount Gold is a precious metals exploration company listed on the OTCBB under the symbol PGDP and on the Frankfurt stock exchange under the symbol P6G (WKN: A0HGKQ). The Company's objectives are to a) aggressively explore and develop the San Miguel project, located in Chihuahua, Mexico within the Sierra Madre Occidental gold/silver belt; and b) fully develop the potential of the strategic alliance with Teck Cominco for gold exploration in South America. For more information, please visit the Company's web site at: www.paramountgold.com (now available in the following languages: English, German, French, Spanish, and Mandarin).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Paramount Gold Mining Corp.
Alain Vachon, 011 511 446 9062 (From Canada or US)
Manager of Exploration, South America
OR
Chris Halkai, Corporate Relations, 613-226-9881
Toll-free: 1-866-481-2233
--------------------------------------------------------------------------------
Source: Paramount Gold Mining Corp.
Golden Star Updates Mineral Reserves and Mineral Resources at December 31, 2006
Wednesday February 14, 5:34 pm ET
DENVER--(BUSINESS WIRE)--Golden Star Resources Ltd. (AMEX: GSS - News; TSX: GSC - News) today announced its Proven and Probable Mineral Reserves, referred to as Mineral Reserves, and its Mineral Resources as at December 31, 2006.
Mineral Reserves in 2006 increased by 380,000 ounces, or 9% before mining depletion. Mineral Reserves, after mining depletion, increased by 100,000 ounces, or 2%, during 2006 to 55.2 million tonnes grading 2.34 grams per tonne (g/t) for contained gold of 4.15 million ounces at year end. The increase was a result of an increased gold price assumption and a focused drill program around our operating mines to convert and better define our Mineral Resources (as defined below). These gains were offset by increasing cost factors, design changes and a review of the Wassa resource model.
Peter Bradford, President and CEO, said: "Although year-on-year Mineral Reserves increased marginally in 2006, there is a significant increase in Mineral Reserves at Bogoso/Prestea and a reduction in Mineral Reserves at Wassa. This reduction at Wassa follows a previously disclosed review of the resource model and the adoption of a new model which we expect to improve our mine planning and gold production forecasts. In addition we have reviewed and updated engineering assumptions and costs and incorporated these into our models. Optimized pit shells using the same parameters as the Mineral Reserves but including Inferred Mineral Resources in the optimization have an additional 3.9 million tonnes at 1.16 g/t of Inferred Mineral Resources and an additional 1.5 million tonnes at 0.83 g/t of Indicated Mineral Resources reporting to them. We expect to drill this Inferred Mineral Resource in 2007 with the aim of bringing it into the Indicated Mineral Resource category."
"The Mineral Reserves," continued Mr. Bradford, "do not include any contribution from the Hwini-Butre and Benso project or the Prestea Underground. We are currently finalizing a feasibility study for the mining and haulage of high grade ore at Hwini-Butre and Benso for processing at our Wassa processing plant. This feasibility study is expected to be completed by, and presented to our Board for a decision to mine, in the second quarter."
Measured and Indicated Mineral Resources increased to 41.0 million tonnes grading 2.40 g/t of gold while Inferred Mineral Resources decreased to 28.7 million tonnes grading 3.05 g/t of gold.
The Mineral Reserve and Mineral Resource estimates have been estimated by our technical personnel in accordance with definitions and guidelines set out in the Definition Standards for Mineral Resources and Mineral Reserves published by the Canadian Institute of Mining, Metallurgy, and Petroleum and as required by Canada's National Instrument 43-101.
There are numerous uncertainties inherent in estimating proven and probable mineral reserves and measured, indicated and inferred mineral resources, including many factors beyond our control. The estimation of reserves and resources is a subjective process, and the accuracy of any reserve or resource estimate is a function of the quality of available data and of engineering and geological interpretation and individual judgment. Results from drilling, testing and production, as well as material changes in metal prices subsequent to the date of an estimate, may justify revision of such estimates.
We expect to complete and file our Form 10-K, which will include additional information on Mineral Reserves and Non-Reserve Mineral Resources, on or about March 13, 2006.
MINERAL RESERVES
Proven and Probable Mineral Reserves as at December 31, 2006
Proven Probable
----------------------------- -----------------------------
Property Gold Con- Gold Con-
Tonnes Grade tained Tonnes Grade tained
(millions) (g/t) Ounces (millions) (g/t) Ounces
(millions) (millions)
--------- ----------- ------ ---------- ----------- ------ ----------
Bogoso/
Prestea
Non-
refrac-
tory 0.9 2.30 0.07 6.9 2.59 0.57
Refrac-
tory 14.5 2.95 1.38 19.3 2.65 1.64
Total 15.5 2.91 1.45 26.2 2.64 2.22
--------- ----------- ------ ---------- ----------- ------ ----------
Wassa
Non-
refrac-
tory 0.5 1.08 0.02 13.0 1.11 0.46
Total 0.5 1.08 0.02 13.0 1.11 0.46
--------- ----------- ------ ---------- ----------- ------ ----------
Totals
Non-
refrac-
tory 1.5 1.85 0.09 19.9 1.62 1.04
Refrac-
tory 14.5 2.95 1.38 19.3 2.65 1.64
--------- ----------- ------ ---------- ----------- ------ ----------
Total
2006 16.0 2.85 1.47 39.2 2.13 2.68
--------- ----------- ------ ---------- ----------- ------ ----------
Total
2005 14.9 3.11 1.48 41.9 1.90 2.57
--------- ----------- ------ ---------- ----------- ------ ----------
Total
------------------------------
Property Gold Con-
Tonnes Grade tained
(millions) (g/t) Ounces
(millions)
------------------------- ------- ----------
Bogoso/
Prestea
Non-refrac-
tory 7.8 2.56 0.64
Refrac-
tory 33.8 2.78 3.02
Total 41.6 2.74 3.67
------------------------- ------- ----------
Wassa
Non-refrac-
tory 13.6 1.11 0.48
Total 13.6 1.11 0.48
------------------------- ------- ----------
Totals
Non-refrac-
tory 21.4 1.64 1.13
Refrac-
tory 33.8 2.78 3.02
------------------------- ------- ----------
Total 2006 55.2 2.34 4.15
------------------------- ------- ----------
Total 2005 56.8 2.22 4.05
------------------------- ------- ----------
Notes to the 2006 Mineral Reserve Statement:
(1) The stated Mineral Reserve for Bogoso/Prestea incorporates Pampe and Mampon.
(2) The stated Mineral Reserves have been prepared in accordance with Canada's National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mineral Reserves are equivalent to Proven and Probable Reserves as defined by the United States Securities and Exchange Commission Industry Guide 7.
(3) The Mineral Reserves have been prepared under the supervision of Mr. Peter Bourke, P.Eng., Vice President Technical Services for the Company. Mr. Bourke is a "Qualified Person" as defined by Canada's National Instrument 43-101.
(4) The Mineral Reserves were estimated using a gold price of $480 per ounce, which is approximately equal to the three year average price, and are based on a mine plan derived from an optimized pit shell.
(5) The terms "non-refractory" and "refractory" refer to the metallurgical characteristics of the ore. We plan to process the refractory ore in our BIOX® bio-oxidation plant that is currently being constructed at Bogoso and to process the non-refractory ore using our more traditional gravity, flotation and/or cyanidation techniques.
(6) Optimized pit parameters are based on historical and projected operating costs at Bogoso/Prestea and Wassa and estimated costs for processing refractory ores in the under construction BIOX® plant. Metallurgical recoveries are based on historical performance or estimated from testwork and typically range between 80 to 92% for non-refractory ores and estimated from 70 to 90% for refractory ores. Pit designs are based on geotechnical criteria established by external consultants. Mining dilution and mining recovery varies by deposit and has been applied in estimating the Mineral Reserves. A royalty of 3% is allowed.
(7) Mineral Reserves are expressed on a 100% basis. Golden Star's share of the Mineral Reserves is subject to the Government of Ghana's 10% carried interest which entitles them to a 10% dividend once our capital costs have been recovered.
(8) Numbers may not add due to rounding.
Reconciliation of Mineral Reserves
The following table sets out the primary factors that impacted our Mineral Reserves during 2006.
Reconciliation Contained Tonnes Ounces
Tonnes Ounces (% of (% of
(millions) (millions) Opening) Opening)
Opening Mineral Reserves 56.8 4.05 100 100
----------------------------------------------------------------------
Gold Price Increase(1) 28.6 1.37 50 34
----------------------------------------------------------------------
Exploration Changes(2) (2.1) (0.04) (4) (1)
----------------------------------------------------------------------
Mining Depletion(3) (4.9) (0.28) (9) (7)
----------------------------------------------------------------------
Engineering(4) (23.2) (0.95) (41) (23)
----------------------------------------------------------------------
Closing Mineral Reserves 55.2 4.15 97 102
----------------------------------------------------------------------
Notes to the reconciliation of Mineral Reserves:
(1) Gold Price Increase represents changes resulting from an increase in gold price used in the Mineral Reserve estimates from $400 per ounce in 2005 to $480 per ounce in 2006.
(2) Exploration Changes include changes due to geological modeling, data interpretation and resource block modeling methodology as well as due to exploration discovery of new mineralization.
(3) Mining Depletion represents 2005 Mineral Reserve mined and processed in 2006 before considering recovery losses and therefore does not correspond with 2006 actual gold production.
(4) Engineering includes changes as a result of engineering facts such as changes in operating costs, mining dilution and recovery assumptions, metallurgical recoveries, pit slope angles and other mine design considerations.
NON-RESERVE MINERAL RESOURCES
Cautionary Note to US Investors concerning estimates of Measured and Indicated Mineral Resources
This section uses the terms "measured mineral resources" and "indicated mineral resources." We advise US investors that while those terms are recognized and required by Canadian regulations, the US Securities and Exchange Commission does not recognize them. US investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves.
Cautionary Note to US Investors concerning estimates of Inferred Mineral Resources
This section uses the term "inferred mineral resources." We advise US investors that while this term is recognized and required by Canadian regulations, the US Securities and Exchange Commission does not recognize it. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. In accordance with Canadian rules, estimates of inferred mineral resources cannot form the basis of feasibility or other economic studies. US investors are cautioned not to assume that part or all of the inferred mineral resource exists, or is economically or legally mineable.
The following table sets out the Mineral Resources, which either (i) fall within a Whittle 4-D optimized shell at a gold price of $560 per ounce using the same modifying factors and assumptions as used for the estimation of the Mineral Reserves, or (ii) report to an underground resource model after applying a cut-off grade commensurate with underground mining. In 2005, as reported in our press release of February 1, 2006, we used a $480 per ounce optimized pit shell to report our constrained Mineral Resources.
Measured and Indicated Mineral Resources and
Inferred Mineral Resources as at December 31, 2006
Measured Indicated
------------------ ------------------
Gold Gold
Tonnes Grade Tonnes Grade
Property (millions) (g/t) (millions) (g/t)
------------------------------- ----------- ------ ----------- ------
Bogoso/Prestea 6.1 2.05 14.0 2.32
Prestea Underground - - 1.1 16.30
Wassa 0.2 1.05 11.7 0.75
Hwini-Butre & Benso - - 5.2 4.30
Goulagou - - 2.7 1.75
Paul Isnard - - - -
------------------------------- ----------- ------ ----------- ------
Total 2006 6.4 2.02 34.7 2.48
------------------------------- ----------- ------ ----------- ------
Total 2005 3.5 2.20 33.9 2.09
------------------------------- ----------- ------ ----------- ------
Measured &
Indicated Inferred
------------------ ------------------
Gold Gold
Tonnes Grade Tonnes Grade
Property (millions) (g/t) (millions) (g/t)
-------------------------------------------- ------ ----------- ------
Bogoso/Prestea 20.2 2.23 4.2 2.70
Prestea Underground 1.1 16.30 5.0 8.68
Wassa 11.9 0.76 7.2 1.18
Hwini-Butre & Benso 5.2 4.30 1.6 4.02
Goulagou 2.7 1.75 0.5 1.02
Paul Isnard - - 10.2 1.70
-------------------------------------------- ------ ----------- ------
Total 2006 41.0 2.40 28.7 3.05
-------------------------------------------- ------ ----------- ------
Total 2005 37.4 2.10 34.0 2.86
-------------------------------------------- ------ ----------- ------
(1) The Mineral Resources for Bogoso/Prestea incorporate Pampe and Mampon.
(2) The Mineral Resources were estimated in accordance with the definitions and requirements of Canada's National Instrument 43-101. The Mineral Resources are equivalent to Mineralized Material as defined by the United States Securities and Exchange Commission Industry Guide 7.
(3) The Mineral Resources, other than for the Prestea Underground, were estimated using an optimized pit shell at a gold price of $560 per ounce from which the Mineral Reserves have been subtracted. Other than gold price, the same optimized pit shell parameters and modifying factors used to determine the Mineral Reserves were used to determine the Mineral Resources. The Prestea Underground Mineral Resources were estimated using a cut off grade based on a $560 per ounce gold price and are commensurate with estimated underground mining costs. In 2005, we used a gold price of $480 per ounce for the optimized shell and the underground cutoff grade, as reported in our press release of February 1, 2006.
(4) The Mineral Resources are in addition to the Mineral Reserves described above.
(5) The Qualified Person for the estimation of the Mineral Resources is S. Mitchel Wasel, our Exploration Manager.
(6) Tables may not add to the total due to rounding.
(7) Mineral Resources are shown on a 100% basis. Golden Star's share of the Mineral Resources is subject to the Government of Ghana's 10% carried interest which entitles them to a 10% dividend once our capital costs have been recovered, in the case of Bogoso/Prestea and Wassa, and are subject to the Government of Ghana's 19% minority interest in the Prestea Underground where Golden Star currently has an 81% beneficial interest.
(8) Pit optimization parameters for the Goulagou Mineral Resources were estimated based on feasibility studies on other similar gold deposits in Burkina Faso, Golden Star's experience in West Africa, and from limited metallurgical testwork on the Goulagou ores. Heap leach processing was the assumed processing option for this deposit.
(9) The Paul Isnard property is owned by EURO Ressources S.A. and Golden Star has a joint venture with EURO to earn a 100% interest in the property.
COMPANY PROFILE
Golden Star holds a 90% equity interest in the Bogoso/Prestea and Wassa open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine and various other property interests in Ghana as well as gold exploration interests elsewhere in West Africa and in the Guiana Shield of South America. Golden Star expects to produce 390,000 ounces of gold in 2007, increasing to 500,000 ounces in 2008. Golden Star has approximately 208 million common shares outstanding as of December 31, 2006.
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding the establishment and estimates of mineral reserves and non-reserve mineral resources, the recovery of any mineral reserves, recoveries, and operating cost factors. Factors that could cause actual results to differ materially include variations in ore grade; variations in relative amounts of refractory and non-refractory ores; failure to receive government approvals; technical, permitting, mining or processing issues, and fluctuations in gold price and costs. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other factors in our Form 10-K for 2005. The forecasts contained in this press release constitute management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received and that actual results will vary from these estimates, possibly by material amounts. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event. Investors and others should not assume that any forecasts in this press release represent management's estimate as of any date other than the date of this press release.
Contact:
GOLDEN STAR RESOURCES LTD.
Peter Bradford, +1-800-553-8436
President and CEO
or
Bruce Higson-Smith, +1-800-553-8436
Vice President Corporate Development
or
Anne Hite, +1-800-553-8436
Investor Relations Manager
--------------------------------------------------------------------------------
Source: Golden Star Resources Ltd.
TRSI going into the long term holds. TRGD type of move is happening.
Zero,
RXPC is one you guys should be looking at. AS 100 mil, OS 61 mil, and Float of 21 mil and it is gone. Company ready to announce full operations in prescription drugs and lab testing most likely today. 5 year business plan kicked off Jan 1 and projected earnings of .12 per share. We are moving up with little volume because there are not any shares left. Company will be fully reporting and on the BB by end of 1st Q. I believe we will see $1 plus this year and if we hit our target EPS could be over $2. Huge market cap in this industry in the trillions and we are poised to capture our fair share. The RXPC board has alot of good DD. CEO is very accessible and the SS is posted on every PR. Great things coming. Best of luck to all.
PEIX -- Dutton Associates Announces Investment Opinion: Pacific Ethanol Strong Speculative Buy Rating In Update Coverage By Dutton Associates
Friday January 26, 12:30 pm ET
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Dutton Associates updates coverage of Pacific Ethanol (Nasdaq:PEIX - News) maintaining a rating of Strong Speculative Buy and a $25.80 price target. The report by Dutton senior analyst Paul Resnik, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, Investars and other leading financial portals.
Since publication of our Initial Report on Pacific Ethanol on December 2, 2005, ethanol shares became the a hot market sector following President Bush's State of the Union speech in January, 2006 before cooling off markedly as ethanol initial public offerings came to market at a time of increasing concern about the possibility of excess ethanol supplies in 2007. Recently, ethanol shares have advanced somewhat from their lows but the recovery has been constrained by concerns about rising corn prices. Even the President's reaffirmation of his support for ethanol in this year's State of the Union address failed to provide sustained strength to ethanol shares. The Company should report a profit for the year 2006 (before non-recurring items). We believe that Pacific Ethanol will substantially increase profits in 2007 despite higher corn purchase and transportation costs than in our original estimates. Looking out to 2008, we are reducing our estimate for that year's earnings per share estimate from $1.90 to $1.24 to reflect the higher corn and transportation cost assumptions. Using the same valuation metric we have used in the past (a price/earnings multiple of 25 and an annual discount rate of 20%), we generate a 12-month price target of $25.80 for the shares. This target indicates a potential for a 60% price advance and, on this basis, we continue to rate the shares a Strong Speculative Buy.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 231 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
Our annual research coverage, which currently costs US $35,000 prepaid, is 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $33,000 from the Company for 4 Research Reports with coverage commencing on 12/02/2005. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
Contact:
Dutton Associates, LLC
John M. Dutton, 916-941-8119
--------------------------------------------------------------------------------
Source: Pacific Ethanol
IVAN -- Ivanhoe Energy Successfully Performs Heavy Oil Upgrading Run
Monday February 5, 8:11 am ET
Recent Innovations Expected to Advance Proprietary Technology
VANCOUVER, Feb. 5 /PRNewswire-FirstCall/ - Ivanhoe Energy Inc. (NASDAQ: IVAN and TSX: IE) has recently completed a significant run at its California Commercial Demonstration Facility (CDF). This run, the most successful to date, was the culmination of a multi-month program that included tailoring the CDF for the processing of heavy crude fractions in configurations matched to specific commercial opportunities that Ivanhoe Energy has identified.
The 26-hour run was concluded with a controlled shutdown at the end of the planned test period. This run processed California vacuum tower bottoms (VTBs), which are the heaviest component of California heavy oil. These VTBs, which are solid at room temperature, are heavier and more viscous than Athabasca bitumen that is found in the Canadian oil sands.
This test run, performed using the High Yield configuration, follows a program of enhancements to the CDF. The run confirmed these enhancements and was also geared to the generation of information related to certain new commercial configurations that the company has developed in recent months. These new configurations were developed in the context of commercial opportunities and are the result of extensive analysis of data from prior runs carried out by Ivanhoe Energy's technical team as well as outside experts in process engineering and upgrading technology. Ivanhoe Energy believes these new configurations may represent a simple and cost effective alternative for the processing of some of the more challenging heavy crudes around the world. The company will continue to pursue these innovative configurations in forthcoming tests and analyses.
"We are pleased to have completed this stage of the test program with such a successful run," said Joe Gasca, President and CEO of Ivanhoe Energy. "We look forward to the results of the third party analysis on the samples that were produced. The stability of this run exceeded our expectations and confirms the work that has been carried out over recent months. This run is also expected to generate useful data regarding the new processing configurations that have been developed as we continue to evolve and improve the technology."
Ivanhoe Energy will continue with both its technical and commercial development initiatives, focusing on Athabasca bitumen from the Canadian oil sands, as well as ongoing work to support the due diligence efforts of potential partners. This most recent run was observed by a representative from one of several international oil companies that are currently assessing the technology and are in strategic discussions with Ivanhoe Energy. Ivanhoe Energy will also continue to pursue and evaluate the application of new configuration alternatives for the processing of heavy crudes and bitumen. Updates regarding potential advancements to the technology will be issued once the data from this run has been analyzed and additional testing is carried out.
Ivanhoe Energy's proprietary, patented heavy oil upgrading technology (HTL) upgrades the quality of heavy oil and bitumen by producing lighter, more valuable crude oil at lower costs and in smaller-sized plants than conventional technologies. The process also produces by-product energy that can be used to generate steam or electricity. In the process of targeting specific commercial applications, Ivanhoe Energy has developed what are believed to be patentable innovations, and expects that new innovations, improvements and optimizations will be continually integrated into the HTL process and protected as the HTL technology progresses.
Ivanhoe Energy is an independent international oil and gas development and production company focused on pursuing long-term growth in its reserves and production using advanced technologies, including its proprietary heavy oil upgrading process (HTL). Core operations are in the United States and China, with business development opportunities worldwide. Ivanhoe Energy trades on the NASDAQ Capital Market with the ticker symbol IVAN and on the Toronto Stock Exchange with the symbol IE.
FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning the potential benefits of Ivanhoe Energy's heavy oil upgrading technology, the potential for commercialization and future application of the heavy oil upgrading technology, potential advancements to the technology and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions relating to matters that are not historical facts are forward-looking statements. Although Ivanhoe Energy believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the HTL test facility may experience technical and mechanical difficulties, the HTL process to upgrade heavy oil and bitumen may not be commercially viable, competition and other risks disclosed in Ivanhoe Energy's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on EDGAR and the Canadian Securities Commissions on SEDAR.
CONTACT: Cindy Burnett, (604) 331-9830, Website: www.ivanhoeenergy.com
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Source: Ivanhoe Energy Inc.
IMMG -- Impart Media Group Releases Operational Update
Tuesday February 6, 9:13 am ET
Company Exceeds 2006 Q4 Revenue Forecast with Estimated $2.34 Million, 2006 Revenues Total $6.65 Million; Forecasting 2007 Revenues of $18 to $21 Million
SEATTLE, Feb. 6 /PRNewswire-FirstCall/ -- Impart Media Group, Inc. (OTC Bulletin Board: IMMG - News), a provider of end-to-end networked digital media solutions for the enhanced delivery of information, merchandising, brand marketing, and advertising, announced today an operational update to its shareholders including business strategy. In addition, the company has announced preliminary unaudited revenue results for the Fourth Quarter of $2.34 Million, representing a 42% increase over Third Quarter revenues.
Joe F. Martinez, Chairman & CEO and Principal Financial Officer of Impart Media Group, issued a letter to shareholders to provide an operational overview and progress report.
Dear fellow shareholders:
At the last Operational Update in October 2006, I outlined several objectives for our company:
* Immediately focus our company and streamline our business in preparation
for a significant and successful 2007.
* Reduce operating costs by eliminating all non-core business absorbed in
recent mergers and acquisitions.
* Replace our CAPEX network-owned revenue model with the implementation of
the strategic 'ImPartner' program.
* Prioritize and expedite all sales efforts to targeted key customers,
with major rollout potential, and integrate multi-tier, product
variations of Impart IQ(TM).
* Capitalize on the E&M (Impart Media Advertising) direct response
advertising business unit potential by year-end.
* Accelerate progress to cash flow positive as soon as possible.
I am very happy to announce that we have accomplished most of those objectives in the past three months:
* We made tremendous strides in our finance department with the hiring of
Stephen Wilson. Under his leadership, we have streamlined our financial
reporting process and the full integration of our E&M Advertising
(Impart Media Advertising) subsidiary into our core business. Our
comprehensive reporting and audit procedures are in place and we have
eliminated all of the legacy legal issues and accounting challenges that
Impart inherited by its recent acquisitions.
* Business units that were no longer core to our revamped business mission
were closed.
* We repositioned our CAPEX business model by strategically aligning
ourselves with a name brand, out-of-home space partner that will provide
the capital requirements for equipment capital expenditures and fulfils
the advertising placement needs. Impart will continue to provide the
content and management of the systems that are installed. We plan to
announce this partnership in March, when the proper client and partner
approvals are in place and we expand our airport deployment efforts.
* The company's top-to-bottom product offerings were augmented with the
addition of the Impart IQ mini(TM), which was designed with small,
integrated touch screen display form factor, Debian Linux or Microsoft
Windows embedded operating system options, solid state flash storage,
network or standalone configurations -- and an expedited development and
manufacturing cycle, with aggressive cost and pricing economies.
* We experienced a very enthusiastic market acceptance of the Impart IQ
mini(TM). Microsoft Corporation is utilizing the Impart IQ mini(TM) for
a merchandising application showcasing their Zune, Vista, and Office
2007 product roll outs with mass market retailers, globally in 2007.
* We also continued to expand our comprehensive product line with
important features and technical functionality, via the platform
additions of Impart IQ Interactive(TM), Impart IQ Live(TM), and Impart
IQ Streams(TM).
* The company continues to deliver complete turnkey systems, equipment and
subscription services to clients such as RediClinic, MediPlay, AT&T,
Bell Canada, Dole Foods, and others as we expand their digital media
networks.
* Significantly, I am pleased to announce that the company surpassed the
1,000 mark of sold units for the Impart IQ(TM) platform by year-end 2006
-- a significant milestone considering the Impart IQ(TM) product line
did not start shipping in quantity until June 2006.
* Our E&M (IMA) business unit experienced its best quarter in twenty years
in Q4 2006, with an array of new clients and increased margin
performance, tied to well-received creative campaigns in direct response
advertising.
From a financial perspective, we would have been cash flow positive in early Q1 2007, however, due to product shipment and installation delays (a result of UL approvals and customer deployment strategies), we now anticipate to become cash flow positive in Q2 2007. Becoming cash flow positive is predicated on product delivery schedules to Europe, client's real-estate negotiations and other factors, however as we expand, we also diversify our client pipeline.
Significantly, based on our impressive business turnaround in Q4 2006, the company will not require additional equity funding, but will rely on less dilutive credit lines and small strategic investments. This approach, along with our strategic relationships in place or in the process of formation, will assist the company with our capital requirements for the foreseeable future.
So even though 2006 was a very challenging and business transitional year, we feel that our management team made considerable progress and we now look forward in 2007 to showcasing exciting product innovation, increased market penetration, and major revenue growth.
Our objectives for 2007 are:
* Reach cash flow positive by the end of second quarter.
* Meet or exceed our revenue forecast of $18 to $21 million by December
2007.
* Continue to strengthen our financial reporting capabilities to
accommodate the timely reporting requirements as the company grows in
complexity and ramps up revenue recognition from various markets.
* Accelerate mass deployment of our Impart IQ(TM) product line to our key
customers such as AT&T, Microsoft, RediClinic, Dole Foods, etc.
* Install and monetize Detroit and Dallas-Fort Worth airports, in concert
with our new strategic CAPEX partner to be announced soon.
* Enhance our recurring revenue model by increasing our creative and
content development department.
* Continue to integrate the E&M business unit into Impart, with the launch
of Impart IQ Ads(TM) in third quarter.
* Continue to seek 'ImPartner' relationships for market reach,
deliverables, and scalability and make strategic and accretive (to
earnings) acquisitions.
* Expand efforts internationally with product distribution and
representation efforts in mainland China, Mexico, Russia, and the UK.
* Continue to build the Impart Leadership Team, as the best in the Digital
Signage sector.
* Put in place a more formal and timely communications process with our
shareholders.
We feel strongly that if we focus on the core fundamentals of the business and meet our revenue projections, continue to deliver the best service in the industry to our clients, and maintain and nurture key strategic relationships, the company, and its shareholders will be rewarded with a stock price that begins to reflect our very promising future. We fully realize that there are no short cuts to building revenue and net income, it has to be accomplished on the basic fundamentals of hard work, timing and execution. In doing so we continue to innovate with our technology platforms, expand our market reach globally, and hire and retain the best and brightest people in the industry.
In conclusion, let me quickly review the state of the digital signage industry from my perspective. I have voiced in the past that the industry has an identity crisis with no real handle on what the delivery of digital media really means or how confusing it can be for clients as they evaluate the multitude of options available. With over 24 years in the business, the principals at Impart have seen the vast confusion. At the low end of the spectrum we have a traditional AV (audio-visual) dealer that hangs a display screen and considers himself a Digital Signage expert and a player in the digital media business. On the other end are the "alphabet broadcast" networks (ABC, CBS, and NBC) which are struggling to keep their commercial advertisements viewable and relevant, as more and more people opt-out by means of DVR's (Digital Video Recorders), DVD's, Video-On-Demand, and the Internet -- bypassing most, if not all, advertising. In the middle of the spectrum is the highly successful Google that delivers targeted and relevant advertising on the Internet, using their "Search Engine" as the means to attract eyeballs. Also in the fight for advertising awareness and mass audiences is the out-of- home sector (i.e. the bill board companies) with their CPM (cost per thousand ad impressions) model, who, despite high PE (price earnings) multiples, are fighting a battle of attrition with more and more visual road side pollution obstacles and stagnating ad revenues due to boring static content. To add video or digital content to road side billboard advertising is not only expensive and technically challenging, it is also facing challenges from safety experts and governmental regulators who are just now beginning to cope with the safety concerns of cell phone usage, GPS visual directional devices, and personal audio or video (i.e., iPod), along with all the other distractions that are confronting and preoccupying the attention of the driving public.
What does this all mean to Impart? We would call it the "perfect storm" where traditional media is being completely disrupted and transformed by technology, due to an inattentive & mobile audience, fluid demographics and other psychosocial phenomena that are permanently changing the way brands and merchandisers have traditionally sought to advertise or promote their products. Adding "chaos theory" to the equation, some of these changes are U.S.-centric, while other rules are somewhat varied in Europe, Asia, and Africa (just now receiving the first semblance of media in the form of cell phones, television, the Internet, and, in some cases, even radio). In some areas of connectivity, many parts of the world are more advanced because of their embrace of a single cell phone standard operating system and government subsidized broadband connectivity, in contrast to the U.S. that has numerous competing and market driven systems -- still -- what drives advertising is media content, an area that the U.S. still dominates.
To fully understand why the Impart solution is different from all of the other competitors that are in the delivery of some form of digital data to a display screen in the out-of-home sector, one needs to first dissect the business model. Some of the competing business models are software packaged (i.e. CD), others are hardware component "box sellers", and a few are offline, media based (e.g. DVD's and flash memory sticks/cards). So the word "media" is confusing and that is exactly where the problem with many business and revenue generating models exists. The purpose of this operational review is not to make the reader technically expert in the delivery of digital media, but to emphasize the primary differentiator as to why we at Impart are confident in our future success and why the market entrance of Cisco and Google only serve to validate what we have been stating for many years.
The founders of Impart: Steve Corey, Laird Laabs, and Tom Muniz (who in the early days led the burgeoning industry by defining the required components of display, multimedia PC, and connectivity -- matched to relevant, real-time and future web based content), recognized that with the advent of the Internet, similar to the early days of radio and television, an infrastructure needed to be built so that an IP-based network could deliver content fast, accurately, reliably, and securely. The founders of Impart utilized many variations of software being offered at the time and developed a sophisticated network backend, adept operational processes, and a scalable deliverables architecture that modularly integrates with a universal multitude of products, services, and data interfaces essential in the mass deployment of digital signage. For the most part, many of the early digital signage networks did not scale adequately and efficiently and were dependent on advertising for survival. Some networks were off target in their messaging and audience, time wasting in their environment, pilot or proof-of-concept sinkholes, and others ended up dying in the hands of the Fortune 500 IT departments, who thought they could internally replicate and deliver on the marketing promise of digital signage. Under the new leadership and broad vision of Impart CTO Todd Weaver, complemented with the application expertise of Lars Jensen, the Impart IQ(TM) product line has innovatively evolved by taking the mystery and cost out of the "media server". When you factor in the "iTunes and YouTube on steroids" potential of Impart IQ Streams(TM) and Impart IQ Ads(TM), we believe the industry, as we know it today, will be forever changed and will become one of the largest media opportunities for the foreseeable future.
So does not the Impart IQ(TM) product line alone change the industry? Not necessarily ... at the end of the day, if products don't work or if the service is poor, success will not be the happy end result. I had the opportunity in my prior career to have worked with IBM, ROLM, and N.E.T, -- all very sophisticated companies that were responsible for the delivery of mission critical information to Fortune 500 companies, such as Rockwell International, American Honda, American Airlines, Federal Express, and Bear Stearns to name just a few. These companies relied on the products that I sold to run their businesses. It is my contention that up to now digital signage had not yet arrived to the mission critical stage, akin to a mandatory, public utility service (i.e. water, electricity, phone, cable, Internet etc.). However, as more advertising budgets are being diverted to the out-of-home sector, digital signage networks and their consequent content delivery are fast becoming business critical, if not mission imperative. For example, if a one-minute ad does not run properly during the Super Bowl, millions of dollars and the millions of captive viewing audience are wasted and the broadcast network is required to "make good". The same is true if a 250 screen, digital signage network running ads, goes "dark" for any length of time due to service interruption. When it comes to relevant, late breaking, or time sensitive content, in the case of our airport kiosk deployments that are pending major expansion, if there is a security breach at the airport, our system has the capability of alerting every display screen (or targeting specific terminal screens) in the airport of the security breach and guiding people into a safety zone or diverting only those affected. If the alert happens to be a genuine threat -- such as a bombing, biological/terrorist attack, fire, or even an Amber Alert to signify that a child has gone missing -- one could effectively make the case that digital signage is now indeed mission critical and a utility service required. Why then would owners or deployers of digital signage networks -- requiring these type of business critical communication scenarios -- rely and take the risk of installing shrink-wrap software, hardware "box seller", or sneaker net (offline) solutions, with off-the-shelf commodity PCs, consumer grade displays, and cheap Internet connectivity supported by a mix bag of vendors and service providers and all pointing the finger at one another, when mission critical media delivery has failed?
This is the case-in-point and foundation of market and business differentiation for Impart. We take end-to-end responsibility, from the design concept and communication goals of the network, fixture design in POS (point-of-sale), POP (point-of-purchase) environments, kiosk enclosure/fabrication, content development/management, network/site monitoring, data/web server hosting, business grade connectivity provisioning, installation, customer support, and onsite service dispatch. We also collaborate with our certified "ImPartners" to fill any of the voids that might be present in any network or media service delivery, such as programming, creative design, and advertising placement. This is an important statement, because from the presentation layer, which is the ad or content placed on the display screen, through the media player, the router, Internet connection, and all the way back to Impart's NOC (Network Operation Center - with our proprietary data storage and data mining system), we are responsible for the entire delivery, security, and maintenance of the network, plus the creative development or repurposing of the content. We are also responsible to the insertion of the ads (when our Impart IQ Ads(TM) portal is activated in the next few months). We don't farm it out, we do it all ourselves, as a turnkey solution provider. The digital signage network or media property owner only makes one call.
This represents only a small facet of the ultimate reason why we are looking forward to a very successful 2007. However, it is setting the stage for even better things to come as deployment of out-of-home digital media crosses over, en masse, to the millions of display screens that today we call cell phones or mobile media. After many years of jump starts, the Digital Signage sector is set to explode, as can be witnessed firsthand with the significant evolution of Focus Media in China, now approaching a $4.5 billion market capitalization, to the recent market announcements of infrastructure giant, Cisco, and the omnipresent Google, with their targeted advertising and search engine. Such companies are clearly legitimizing the sector and we welcome their entry and even their collective success in our space. Needless to say, these same companies will create more opportunities for Impart by validating our pioneering industry development efforts and attaching tangible valuation to our wealth of market experience and industry knowledgebase. Impart intends to capitalize on its near first-to-market leadership position -- that up to now has increased its market share by word-of-mouth and reputation in the industry -- by securing projects that only make financial and technical sense.
We appreciate our shareholders patience during this past year and look forward to a very rewarding 2007.
Sincerely,
Joe F. Martinez
Chairman & CEO, Impart Media Group, Inc.
_________________________________
The company expects to report its Fourth Quarter and 2006 Annual Financial results by March 30, 2007.
About Impart Media Group, Inc.
Impart Media Group, Inc., headquartered in Seattle, Washington, is a rapidly expanding digital signage leader in the emerging out-of-home media sector. The company's mission statement: "We provide end-to-end networked digital media solutions for the enhanced delivery of information, merchandising, brand marketing, and advertising."
The company is growing through a consolidation strategy that includes acquiring the industry's best and brightest talent and developing the most advanced solutions to create a broad, integrated one-stop communications media company focused on digital signage and networked advertising offerings for leading brands and environments in industries such as retail, grocery, banking, restaurants, hospitality, government, airports, and public transit spaces, among others. The company's digital media solutions enable the simultaneous delivery of video, stills, text, web, and animation content to a variety of remote audiences in real time, allowing for immediate customization of messages through a centralized network operations center or secure web portals. For more information please visit: www.impartmedia.com or call (800) 544-3343.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995. This news release may contain forward-looking statements relating to the success of any of the Company's strategic initiatives, the Company's growth and profitability prospects, the benefits of the Company's products to be realized by customers, the Company's position in the market and future opportunities therein, the deployment of Impart products by customers, and future performance of Impart Media Group. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC). You should not place undue reliance upon any such forward-looking statements, which are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.
Rick Lutz, LC Group
(404) 261-1196 or LCGroup@mindspring.com
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Source: Impart Media Group, Inc.
Paramount Gold to Acquire 100% of the Cotaruse Cu-Ag-Au Property in Southern Peru
Thursday February 1, 8:30 am ET
LIMA, Peru--(BUSINESS WIRE)--Paramount Gold Mining Corp. (OTC:PGDP - News; Frankfurt:P6G - News; WKN:A0HGKQ) and its Peruvian subsidiary, Compania Minera Paramount SAC, are pleased to announce that they have signed a Letter of Intent with a private owner to acquire a 100% interest in the Cotaruse property, located in the Department of Apurimac, Southern Peru.
The project consists of a 1,000 hectare mining concession with main infrastructures in place, including highway, electricity and water, which are readily accessible within 5 kms of the center of the property.
Alain Vachon, Manager of Exploration in South America commented, "We are very pleased to acquire the Cotaruse property, which has the potential to host a medium sized bulk tonnage open pit Cu + Ag +/-Au skarn deposit. Surface sampling to date shows average grades of greater than1% copper, 20 g/t Ag and 0.25 g/t Au. The property is ideally situated very close to major infrastructures including electricity and a highway. Helping matters is the fact that the locals in the area are well acquainted with and generally receptive to mining. We are currently conducting legal and technical due diligence that we expect will lead to the signing of a formal agreement in early March, at which point field work will commence."
Paramount Gold's due diligence thus far has identified four distinct mineralized areas on the property that could be forming one single mineralized zone, taking into account the effect of overburden cover and sparse sampling completed to date. Copper mineralization is primarily composed of Cu-oxide, chalcopyrite, malachite, chalcocite and azurite. The mineralization appears to be strongest nearest the granite contact, and weaker to the southwest closer to the core of the fold. Based on a compilation of 129 samples taken in 2004 by the previous owner and 24 samples collected by Paramount, the mineralized zones yielded the following average grades:
Zone 1 - The Northeast Zone; 2.56% Cu, 20 g/t Ag and 0.12 g/t Au
Zone 2 - The Southern Zone ; 1.15% Cu, 9.7 g/t Ag and 0.06 g/t Au
Zone 3 - The South Center Zone; 1.06% Cu, 5.7 g/t Ag and 0.095 g/t Au
Zone 4 - The West Zone; 0.35% Cu, 3.18 g/t Ag and 0.8 g/t Au
Cotaruse is located along the northern edge of the Inflection of Abancay where the volcanic rocks are host to an unprecedented amount of hydrothermal activity and mineralization within the district. The property lies at the north edge of the Selene - Explorador mining camp, which covers a crudely circular area measuring 22 kilometers in diameter. Several Au-Ag low and high sulphidation deposits are currently being mined in this area by Horschild, Orovega and Buenaventura. Considering the multitude of other veins and structures in the camp aside from the aforementioned, the amount of hydrothermal activity and the particular structural setting prevailing in this area, it can be said that the Cotaruse property has a very favorable metallogenical address.
The Cotaruse Project is mainly occupied by limestones of the Ferrobamba formation that form a tight nearly vertical anticline that is dominant across a kilometer in the center of the property. The limestones are intruded by some fresh granodiorite. Alteration is restricted to limestones and is observed as intense dark green diopside-garnet skarn development which is traced over a minimum distance of 1.2 kilometers in length, with widths exceeding 200 meters and between 250 to 400 meters of vertical extent.
In order to acquire a 100% interest, Paramount will pay the owner, Ing Miguel Picasso, an aggregate amount totaling US$3,000,000 and will incur exploration expenditures of US$2,000,000 over a period of 4 years. The first year's payment is US$150,000, followed by payments of US$750,000 in year two, US$800,000 at the end of year three and US$1,300,000 at the end of year four. The owner will also receive a 2.5% NSR of which 1.5% can be bought back at any time by Paramount for a lump sum payment of US$ 2,000,000.
Quality Control Person
Alain Vachon, P.Eng., Manger of Exploration, South America, is acting as the qualified person and has prepared the detail and review with respect to this news release.
About Paramount Gold
Paramount Gold is a precious metals exploration company listed on the OTCBB under the symbol PGDP and on the Frankfurt stock exchange under the symbol P6G (WKN: A0HGKQ). The Company's objectives are to a) aggressively explore and develop the San Miguel project, located in Chihuahua, Mexico within the Sierra Madre Occidental gold/silver belt; and b) fully develop the potential of the strategic alliance with Teck Cominco for gold exploration in South America. For more information, please visit the Company's web site at: www.paramountgold.com (now available in the following languages: English, German, French, Spanish, and Mandarin).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Paramount Gold Mining Corp.
Alain Vachon, 011 511 446 9062 (From Canada or US)
Manager of Exploration, South America
OR
Chris Halkai, Corporate Relations, 613-226-9881
Toll-free: 1-866-481-2233
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Source: Paramount Gold Mining Corp.
AUCAF -- ATP-299 Strikes Oil on ACOR's ORRI - Five (5) More Oil Wells Completed on The Tintaburra Oil Field with Estimated Oil Reserves of approximately 84 Million Barrels of Oil or approximately $4.6 Billion Dollars at Current Market Prices
Wednesday January 31, 9:11 am ET
CISCO, Texas--(BUSINESS WIRE)--Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF - News) reports that the JV partner of ATP-299 has announced that the Endeavour 40 oil well, the Endeavour 26 oil well, the Endeavour 34 oil well, the Endeavour 39 oil well and the Endeavour 17 oil well have all been cased and suspended as future oil production wells on ACOR's ORRI on ATP 299 located in the prolific Cooper/Eromanga Basin in Queensland Australia.
The Rig PDI-735 spudded the Endeavour 40 well on December 31st 2006. Oil shows were encountered in the Westbourne and Birkhead Formations. Wireline logs indicate a total of approximately 13 feet of net oil pay. The well has been cased and suspended as a future oil production well.
The Rig PDI-724 spudded the Endeavour 26 well on January 3rd. Good oil shows were encountered while drilling in the Birkhead Formation and evaluation of the wireline logs indicated approximately 26 feet of net oil pay. The well has been cased and suspended as a future oil production well.
The Rig PDI-735 spudded the Endeavour 34 on January 6th. Oil shows were encountered in the Birkhead Formation, and wireline logs indicate approximately 20 feet of net oil pay. The well has been cased and suspended as a future oil production well.
The Rig PDI-724 spudded the Endeavour 39 oil well on Jan 12th. Oil shows were encountered in the Birkhead Formation. Two 29 foot cores were cut out and recovered over the Birkhead reservoir interval. The well has been cased and suspended as a future oil production well. The cores will be used in reservoir studies.
The Rig PDI-735 spudded Endeavour 17 on January 16th. Good oil shows were encountered in the Birkhead Formation and wireline logs indicated approximately 16 feet of net oil pay. The well has been cased and suspended as a future oil production well.
Heavy rains in the Cooper/Eromanga Basin have curtailed current operations this week.
Results of the 2006 Drilling Program on ATP 299 on ACOR's ORRI:
The 2006 drilling results are considered to be a great success as the drilling program averaged an overall 75% success ratio. See below.
Total Number Number Completed Number Plugged
of wells drilled for Production and Abandoned
(Since Feb 2006) (Oil Production/Water Injection)
77 58 19
The proposed 2007 Drilling Program on ATP-299 on ACOR's ORRI:
The JV partner is so pleased with the 2006 drilling results that they have announced an additional 81 wells are planned to be drilled in 2007 on ATP-299 on ACOR's ORRI, although the program may vary depending on results.
The breakdown of the 81 wells planned to be drilled on ATP-299 are as follows:
Endeavour Oil Field - 22 Wells
Mulberry Oil Field - 20 Wells
Talgeberry Oil Field - 9 Wells
Gimboola Oil Field - 2 Wells
Chancett Oil Field - 1 Well
Tintaburra Oil Field - 27 wells
About The Tintaburra Oil Field:
The Tintaburra drilling program on ACOR's ORRI is the largest continuous oil development and exploration drilling program ever undertaken in Australia with two (2) modern rigs drilling and casing wells at around ten (10) days per well.
The wells to be drilled are designed to achieve additional oil production and to test the extent of the oil pool in the Birkhead 11-77 sand discovered in the Mulberry 1 well.
The Mulberry 1 well, located on ATP-299 was drilled in 2004, and the well came in with an initial potential of approximately 600 barrels of oil per day. ATP-299 is located in the prolific Cooper/Eromanga Basin.
The Mulberry, Endeavour, Talgeberry, Gimboola & Chancett Oil Fields are all part of the Tintaburra Oil Field on ACOR's ORRI under ATP-299 and is estimated to contain around 84 million barrels of proved plus probable oil in place or approximately $4,600,000,000, at current market prices.
ACOR owns .0575 of 1% ORRI under ATP-299.
About Australian-Canadian Oil Royalties Ltd.:
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait.
ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interests and overriding royalty interests are located offshore & onshore in the best producing basins.
Visit our website at www.aussieoil.com.
Disclaimer:
Except for historical information contained herein, the statements released are forward-looking statements that are made pursuant to the provision of the Private Securities Litigation Reform Act of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
Contact:
Australian-Canadian Oil Royalties Ltd.
Investor Relations, 254-442-2638
acor@classicnet.net
--------------------------------------------------------------------------------
Source: Australian-Canadian Oil Royalties Ltd.
Heller Presents Nanofabrication Advances Using Nanogen Technology at Lab Automation Conference
Wednesday January 31, 1:30 pm ET
SAN DIEGO--(BUSINESS WIRE)--Nanogen, Inc. (Nasdaq:NGEN - News), developer of advanced diagnostic products, announced today that Michael J. Heller has presented results demonstrating nanofabrication applications of the company's NanoChip® technology at the LabAutomation 2007 conference in Palm Springs, Calif. Heller was a co-founder of Nanogen along with current chairman and CEO Howard Birndorf in 1993 and is now a professor of bioengineering at the University of California, San Diego.
Heller's presentation described the use of Nanogen's proprietary electronic "pick and place" technology to direct the assembly of nanoparticles in a rapid and cost-effective manner. His research team has used Nanogen's NanoChips and NC400 instrument to build multi-layered structures of nanoparticles by electronically directing the components to targeted positions on a microarray template.
"Completed structures can later be 'popped off' the template by several simple procedures. It's a unique approach to the assembly of nanoparticles into more complex structures," said Heller. "Potential applications include the production of micro-scale biosensors that may ultimately be used in the body to monitor diseases.
"There are also many uses outside of biomedical and environmental monitoring such as the manufacture of photovoltaic devices, fuel cells and batteries," he added. "It is currently very expensive to produce these devices and materials because integration of many nano and microscale components has to be accomplished. Nanogen's technology, which allows for a 'bottom up' integrated assembly, has the potential to make nanomanufacture relatively easy and cheap."
Nanogen has an extensive portfolio of intellectual property relating to integrated assembly of molecular structures through the use of electric field microfabrication technology. For licensing opportunities, contact Nanogen.
Heller's presentation was titled, "Automated Combinatorial Process for Fabrication of Multilayered Nanoparticle Structures." Additional information about the conference, sponsored by the Association for Laboratory Automation, is available at: http://labautomation.org/LA/LA07/index.php.
About Nanogen, Inc.
Nanogen's advanced technologies provide researchers, clinicians and physicians worldwide with improved methods and tools to predict, diagnose, and ultimately help treat disease. The company's products include real-time PCR reagents, the NanoChip®400 electronic microarray platform and a line of rapid, point-of-care diagnostic tests. Nanogen's ten years of pioneering research involving nanotechnology holds the promise of miniaturization and continues to be supported for its potential for diagnostic and biodefense applications. For additional information please visit Nanogen's website at www.nanogen.com.
Nanogen Forward-Looking Statement
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including whether patents owned or licensed by Nanogen will be developed into products, whether the patents owned by Nanogen offer any protection against competitors with competing technologies, whether products under development can be successfully developed and commercialized, whether results reported by our customers or partners can be identically replicated, and other risks and uncertainties discussed under the caption "Factors That May Affect Results" and elsewhere in Nanogen's Form 10-K or Form 10-Q most recently filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Nanogen disclaims any intent or obligation to update these forward-looking statements.
Contact:
Nanogen, Inc.
Robert Saltmarsh
Chief Financial Officer
858-410-4600
or
Suzanne Clancy
Corporate Communications
858-410-4688
sclancy@nanogen.com
or
Porter Novelli Life Sciences
Kim Richards
Media & Investor Relations
619-849-5377
krichards@pnlifesciences.com
--------------------------------------------------------------------------------
Source: Nanogen, Inc.
PLRO Undiscovered Gem
PLRO Synopsis
The PRO technology, known as TechroBond, is positioned to disrupt large, status quo global Lubrication markets, markets that are controlled by some of the world's largest corporations. PLRO has been working on this technology for 10 years. Their products lubricate better, have less wear, reduce friction (current oils increase friction, even a 2% change in frictional losses can yield improvements of 10% in fuel economy), contains less phosphorous (thus less pollution) and cost the same or less.
Environmental Regulators are presently demanding changes -- changes that only TECHROBOND can deliver. TechroBond which is low phosphorous and clean burning, may be the only plausible, tested and proven replacement for ZDDP, the primary chemical component in engine and lubricating oils.
California State lawmakers have long been at the forefront of emissions and anti-pollution legislation. Environmental protection models developed in California are generally regarded as the "Gold Standard", and are routinely adopted by other jurisdictions, both in the US and internationally subsequent to their release and implementation in California. Governor Schwarzenegger signed Executive Order # S-3-05 on June 1, 2005. The Executive Order established greenhouse gas targets:
* By 2010, Reduce to 2000 Emission Levels
* By 2020, Reduce to 1990 Emission Levels
* By 2050, Reduce to 80 percent Below 1990 Levels
Engine Oil (Largest Market)
The most commonly used additive in engine oil is ZDDP, an anti-wear additive. ZDDP was invented 60 years ago and has changed very little since. The "P" in ZDDP stands for phosphorous, and when it is burned, one of the byproducts is sulfur gas , which is a harsh environmental pollutant. The presence of ZDDP in the motor oil formulation is one of the largest contributors of noxious tailpipe emissions. The EPA has mandated that the amount of phosphorous contained in motor oils must be reduced well below its current levels of 0.08% or eliminated all together, and performance must be equal to oil currently on the market, but automakers and oil formulators agree that conventional oil with phosphorous levels below 0.08% are unable to perform to an acceptable standard. Conversely, in lab tests conducted by General Motors Corporation, one of the US "Big Three" auto manufacturers, oil formulations containing TechroBond demonstrate better performance than current oil formulations on the market, even with a reduction of Phosphorous to 0.01%.
ZDDP is also known to deactivate the catalytic converter after 50,000 miles and therefore is a prime contributor to tailpipe emissions. The EPA has mandated that all automobile manufacturers must certify their catalytic converters meet emission standards for 120,000 miles of operation. TechroBond does not affect the catalytic converter, and will not compromise its effectiveness, even over time!
While they expect a steady stream of products and applications to be commercialized over the next 1-2 years in grease, metalworking fluid, hydraulic fluid and other applications, the largest addressable markets are oil additives and specialty coatings.
Producing Revenues Now
Revenues commenced in 2006, with the Company selling its first products to customers in the rail industry. PRO has partnered with Whitmore Group, a formulator and vendor of lubricants and greases to the rail industry, to formulate and market products specifically designed for use in rail transport applications. TechroBond enhanced grease was used in railcurve applications by a major rail carrier, and tests indicate an improvement in lubrication of between 40% and 200%, with improved anti-wear and anti-corrosion performance. These results have been confirmed by independent Falex Labs of Chicago, spurring Whitmore to actively market TechroBond enhanced grease for railcurve, axle and other heavy industrial applications to the nation's five largest rail companies.
Addressable Markets (2005 Sales)
Industrial Coatings - $18 Billion
MetalWorking Fluids - $3.7 Billion
Gear Oil - $1.7 Billion
Grease - $1.8 Billion
Hydraulic - $3 Billion
Lubricant Additives - $3.8 Billion
Engine Oil - $24.8 Billion
Total Potential Markets - $56.8 Billion or higher
Impressive Board of Directors
* Chairman, Mr. Thomas G. Plaskett, the former CEO of Pan Am and Continental Airlines, current chairman of Novell Corporation, and a Director of Radio Shack Corporation
* Mr. Allan McArtor, current chairman of Airbus North America Holdings, Inc.
* Dr. Michael McMillan, former chairman of ILSAC (International Lubricants Standardization and Approval Committee), recently served as Vice President of the power-train division of General Motors, which is the division that deals with all things to do with engines.
* Mr. Arnold Burns, Chairman of Quanstar Group and former deputy attorney general at the Department of Justice.
* Mr. Ben DuPont, Chairman of yet2.com, DuPont Chemical family member, former Senior Dupont Executive.
* Mr. Theodore Brombach, a former Managing Director of Morgan Stanley.
PLRO is obviously poised to modernize the Lubrication Industry. The company began trading in November 2006, and is as of now still undiscovered by the investment community, yet.
PLRO Website:
http://www.platinumresearch.com
.
Paramount Gold Reports NI 43-101 Technical Report; A Preliminary Resource Estimate at Their San Miguel Project, Mexico
Friday January 26, 1:00 am ET
CHIHUAHUA, Mexico--(BUSINESS WIRE)--Paramount Gold Mining Corp. (OTC:PGDP - News; Frankfurt:P6G, WKN:A0HGKQ), is pleased to report the results of an NI 43-101 technical report completed on their San Miguel Project near Temoris, Chihuahua, Mexico. The report was completed by Dana Durgin of Delve Consultants LLC., Sparks, Nevada, USA.
The results of the report are based on only 39 of the 53 shallow drill holes completed to date and have only considered higher grade ore as an inferred resource that could potentially be mined by underground methods. The drill holes used to compile this report are widely spaced and primarily test only the upper 100 meters of the vein system. Paramount is confident that they can continue to increase their resource, both down dip and along strike, as well as between the targets tested initially.
Chris Crupi, President and CFO stated: "I am very pleased with the progress our exploration team has made at San Miguel, Mexico. At the time of this report, our exploration expenditures were roughly US$2,500,000 and we identified 38,000,000 ounces of silver equivalent. This gives us a very low finding cost of less than US$0.07 per ounce of silver. I am very confident that we can continue to add substantial silver resources and eventually reserves, at a very low cost, which will dramatically increase shareholder value."
San Miguel - Report Highlights
Mineralization at San Miguel is controlled primarily by the 8-kilometer long, NNW trending Guazapares fault zone. Within this fault zone, which may be up to 300 meters wide, a series of en echelon, and to a lesser extent sub-parallel, quartz veins have developed. Each of these en echelon veins has a strike length of 250 to 400 meters, and an unknown down-dip extent. Drilling at San Miguel at the date of this report includes 47 drill holes irregularly distributed along 2.7 kilometers of this strike length. Six additional holes are in the La Blanca and Montecristo zones to the north, which are not considered here.
Only 39 of these 47 holes were used in the resource calculation. Of the other eight holes, six are in the southern part of La Union, where there was no significant resource identified. The remaining two holes were considered too isolated to include in the calculations. Drilling has not yet been done on a regularly spaced grid. The abundance and spacing of drilling in any given area is insufficient at this time to produce a rigorous resource calculation.
This resource estimate was done manually, using vertical cross sections drawn perpendicular to the strike of the principal vein in each zone. Mineralization is polymetallic with silver, gold, lead and zinc contributing to the dollar value. The boundaries were defined by using current metal prices (Au @ $600/oz, Ag @ $13/oz, Pb @ $0.65/pound, Zn @ $2.00/pound) to calculate a gold-equivalent dollar value. Boundaries were arbitrarily drawn at a $50 metal value cut-off, which was chosen as a simply defined, consistent method to define these boundaries.
The San Miguel resource is only in the early stages of definition, with the bulk of the resource so far relating to the near surface drill results in the San Antonio and El Carman zones where assay results remain incomplete.
The inferred resource is calculated to be 4.8 million metric tones, grading the US dollar equivalent of 246.6 grams of silver per tonne, or 38 million ounces of silver as shown in the table below:
Table 17.6 San Miguel Inferred Resource Summary
Area # holes Tonnes Ag eq Grade Ag eq Oz
La Union 9 675,000 244.6 g/t 5,307,700
San Jose 10 1,010,000 234.5 g/t 7,615,400
San Luis
Below 300 ft 7 155,400 513.6 g/t 2,566,200
Above 300 ft 1 150,000 430.7 g/t 2,076,900
San Antonio(a) 6 1,510,000 236.8 g/t 11,499,200
El Carmen(a) 6 1,300,000 215.3 g/t 9,000,000
Totals 39 4,800,400 246.6 g/t 38,065,400 Ag eq oz
(a) Drilling at San Antonio and El Carmen are ongoing and assay results are incomplete. These figures will be refined in February 2007 when all assay data are complete.
Resource Potential - Report Highlights
Approximately 1800 meters of trenching has been completed in 34 trenches. Most of these exposed excellent mineralization for sampling and geologic mapping. In addition, grid-based rock sampling over a large area in the San Jose zone indicated the presence of zone, of at least 150 by 250 meters that averaged 150 g/t silver. This suggests that Paramount may be able to develop a mineable near surface silver/gold body that may be amenable to heap leaching, in addition to polymetallic mineralization which may be mineable underground. This is not included in the resource noted above.
Ongoing exploration is expected to add to the resources in areas not considered in this estimation. Few of the drill holes have reached more than 120 meters below the surface. Drilling below these depths is expected to add to mineral resources. In precious metal systems like this, such as at nearby Palmarejo, ore shoots are known to persist to depths of 300 meters or more down dip.
In addition, the resources described in this report remain open along strike to the NNW and SSE, as well as down dip. The ongoing San Miguel drilling program has tested only 2.7 kilometers of the 8-kilometer strike length of the system with rather widely spaced holes. Also, the San Miguel vein system in a parallel fault zone two kilometers to the west has excellent silver/gold mineralization at the surface, but has not yet been drilled. Additional drilling is clearly warranted in these highly prospective areas.
Background Comment
Paramount initiated diamond core drilling in April 2006, using Layne de Mexico as the contractor. As of early December 2006, a total of 7233 meters of HQ (2.5 inch core) drilling had been completed in 53 drill holes. All drill, trench and surface samples were analyzed by ALS Chemex.
Most of the intercepts in both trenching and drilling in the La Union South zone had significantly higher than normal zinc and lead values (in the 1-2% zinc range), including one 13.5 meter interval in hole LU-11 containing 2.38 % lead and 7.07% zinc. At today's metal prices, that material has a gross metal value of nearly $300 per ton, without including precious metals. The relative abundance of lead and zinc leads the author to believe that the erosion level in this portion of the Gauzapares district is deeper than the areas further north, such as San Antonio.
The resources defined in this report, are correctly classified as Inferred Resources due to the level of check arraying, the spacing of drill holes, and the preliminary stage of the deposit modeling and estimation process. The classification of these resources as Inferred indicates that the resources have been estimated on the basis of geological evidence and reasonably assumed, not verified, geological and grade continuity. While it cannot be assumed that all of the Inferred Resources noted here will be upgraded to Indicated or Measured Resources, the author believes that improvements in the drill hole spacing, the deposit modeling and the estimation procedures will lead to conversion of at least a significant portion of these resources to higher classifications.
The complete NI 43-101 report can be viewed or downloaded at Paramount's website (www.paramountgold.com) or www.sedar.com.
Qualified Person
The report was written in compliance with disclosure and reporting requirements set forth in the Canadian Securities Administrators' National Instrument 43-101, Companion Policy 43-101CP, and Form 43-101F1. The resource estimate for the San Miguel deposits were prepared by Dana Durgin in December 2006 of Delve Consultants LLC. Mineral Exploration and Development, Sparks, Nevada, USA ; no mineral reserves were estimated. Mr. Durgin (the author) is a qualified person under Canadian Securities Aministrators' National Instrument 43-101 and a member of the American Institute of Professional Geologists (CPG #10364), a Registered Professional Geologist in Wyoming (PG-2886), and a member of the Geological Society of Nevada. The author has independently investigated the data provided to him by Paramount Gold Mining Corp., to the extent deemed necessary in his professional judgment to be able to reasonably rely on this information.
About San Miguel
San Miguel is currently comprised of 16 concessions covering an estimated 6 kms strike of silver and gold mineralization. It is located in Chihuahua, Mexico and lies in the Guazapares mining district, part of the gold-silver belt of the Sierra Madre Occidental. Paramount signed an agreement in August 2005 with Amermin S.A. de CV, a subsidiary of Tara Gold Resources, to acquire a 70% interest in the San Miguel project.
About Paramount Gold
Paramount Gold is a precious metals exploration company listed on the OTCBB under the symbol PGDP and on the Frankfurt stock exchange under the symbol P6G (WKN: A0HGKQ). The Company's objectives are to a) aggressively explore and develop the San Miguel project, located in Chihuahua, Mexico within the Sierra Madre Occidental gold/silver belt; and b) fully develop the potential of the strategic alliance with Teck Cominco for gold exploration in South America. For more information, please visit the Company's web site at: www.paramountgold.com (now available in the following languages: English, German, French, Spanish, and Mandarin).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Investor Relations
Skyline Communications, 613-226-9881
Toll-free: 1-866-481-2233
--------------------------------------------------------------------------------
Source: Paramount Gold Mining Corp.
AUCAF -- VIC/P54 Operator Estimates that Longtom Gas Contract & Condensate Are Equivalent to Approximately 57 Million Barrels of Oil or $2,800,000,000 on ACOR's ORRI
Thursday January 25, 9:18 am ET
Longtom 4 Well to Drill in 2007
CISCO, Texas--(BUSINESS WIRE)--Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF - News) is pleased to announce that the operator of VIC/P54 states in their annual report that their best estimate of the 350 petajoules (PJ) gas contract along with the 4 million barrel condensate from the drilling of the Longtom 3 well on ACOR's ORRI is equivalent to approximately 57 million barrels of oil or approximately $2.8 Billion Dollars, using current market prices.
In 2006, the operator of VIC/P54 signed a $1 billion gas contract with Santos Ltd, which provided the commercial platform to appraise Longtom. The contract calls for the delivery of 350 PJ of sales gas from the Longtom field at an agreed price. If Longtom produces in excess of 350 PJ of gas, a joint marketing agreement exists for sales of a further 100 PJ of gas from Longtom at market prices.
The result of Longtom 3 well drilled in 2006 has given the operator more confidence that they not only have significant gas resource, but they have more than adequate production on a per well basis to justify a commercial development.
First gas from Longtom Gas Field on ACOR's ORRI is currently expected to flow in mid-2008. VIC/P54 consists of 155,676 gross acre and is located offshore Australia in the prolific Gippsland Basin.
The conversion rates used for the best estimates figures stated above for the Longtom gas field are 1 barrel of condensate is equal to 1 barrel of crude oil equivalent and 6.6 PJ is equal to 1 million barrels of oil equivalent. These figures are taken from the operator's annual report. In 2005, the internationally recognized consultants Gaffney Cline and Associates (GCA) increased their Best Estimate of Longtom Contingent Gas Resources by 38% to 438 Bscf.
About the Longtom Gas Field
The permit VIC/P54 contains the Longtom gas field which was discovered by BHP Billiton in 1995 but was considered non-economic. The Longtom 1 discovery well intersected a 1,266 foot gas column in the Emperor formation, which was confirmed in the Longtom 2 appraisal well drilled by Nexus in late 2004 Longtom 2 intersected a 1,312 foot plus gas column.
On test the lower reservoir section flowed at a stabilized rate of 18-19 MMscf/d over a 12 hour period. However the upper reservoir section did not flow gas to surface after the failure of a sub-surface valve in the well bore although a core cut from the well confirmed an excellent upper reservoir section highly capable of flowing gas.
The Longtom 3 well, drilled in July 2006, confirmed the commercial potential of the Longtom field when an estimated flow rate of over 75 MMscf/d was recorded during the second production test over reservoir sections including the upper sand which did not flow in the Longtom 2 well. The Longtom 3 well intersected a total of 3,379 feet of gross gas reservoir on ACOR's ORRI.
Longtom 3 was tested through a production completion and Xmas tree leaving the well ready for production without requiring any further rig intervention. The Longtom 3 appraisal well was part of a sole risk appraisal program operated by Nexus.
From deepest to shallowest, the gas bearing reservoir units in the Longtom field are named the 100, 200, 300, 400 and 500 sands. The reservoirs appear to be connected to a series of vertically separate, but laterally connected, common aquifers.
Two production tests were conducted on the Longtom 3 well were highly successful. The first test produced gas from the 400 sand at 23 MMscf/d. These results confirmed the flow potential of the (upper) 400 sand reservoir in the Longtom field, addressing the concern from the Longtom 2 well where a gas flow was not achieved due to the valve failure.
The second test, over the 100, 200 and 300 sand intervals exceeded expectations producing an estimated 77 MMscf/d when bypassing the test separator and 59 MMscf/d when flowing through the test separator.
Longtom Gas Field Could Be Bigger
The Longtom 3 appraisal well in VIC/P54 has confirmed the potential for gas charged sands in the Admiral Formation along the northern margin of the Gippsland Basin to flow gas at commercial rates and has opened up a new exploration play in this area.
The drilling of the well has also confirmed the viability of a new technique for defining exploration targets in this area. The horizontal section of the Longtom-3 appraisal well was drilled along a sinusoidal path, specifically designed to target seismic amplitude anomalies, which were interpreted to correspond to thin gas charged sands within the Longtom Field.
The technique proved to be very successful in predicting the presence of gas sands within the field and further analysis of the 3D seismic data has highlighted the potential for several other exploration targets close to the Longtom Field, which are characterized by similar seismic anomalies.
The most significant of these is a shallower exploration target that directly overlies the Longtom field and has a very similar, well defined seismic anomaly on the 3D seismic data.
The 'Longtom Upper' sand is expected to extend over an area of approximately 8 miles and be as thick as 131 feet in certain areas. The possible resource potential of the Longtom Upper sand is approximately 250 BCF of gas and will be tested by a future well. If successful, these sands could be readily integrated into a Longtom development at modest additional cost.
ACOR owns 5% of 1% ORRI under VIC/P54.
About The Gippsland Basin:
In excess of 4 billion barrels of oil/condensate and 12 TCF gas reserves have been discovered in the Basin since exploration drilling began in 1964, with remaining reserves estimated at 600 million barrels of oil and 5 trillion cubic feet of gas. Current production of the basin is around 140,000 barrels per day of crude and 570 million cubic feet per day of gas. At peak rates, the Gippsland Basin can deliver more than 1,000 million cubic feet a day.
Some of the very best oil production in the world is found in the Gippsland Basin. Take for example, the Halibut Oil Field. The average well in the Halibut Oil Field has produced 60,000,000 bbls of oil per well or $3,000,000,000 worth of oil per well, at current crude market prices.
More Good News on ACOR Gippsland Basin Assets:
About VIC/P45:
$22 Billion Oil Company Apache Becomes Operator of ACOR's ORRI under VIC/P45
Apache begins shooting additional 3D Seismic on VIC/P45 in March and Drilling the 1st well later this year.
VIC/P45 consists of 214,896 gross acres. VIC/P45 is located offshore in the most prolific oil-producing basin in Australia, approximately 1 1/2 miles east of the Kingfish Oil Field in the Southern Gippsland Basin in the Bass Strait.
The Kingfish Oil Field, the largest oil field in Australia, has produced 1,100,000,000 barrels of oil since its discovery. There are currently 23 producing wells in the field. The permeability in the pay section ranges between 5,000 and 40,000 millidarcies, which is extremely high. On mapping there are 14 structures on VIC/P45, which includes one oil and gas field discovery with 16 pays and over 1,000 feet of pay section and a second with one gas pay section. This was a discovery well drilled off projected prospects.
Apache has agreed to pay 100% of the cost to drill the 1st well; in return Apache will earn a 66.6667% working interest. Depending on the results from the 1st well, Apache may elect to drill a second well and pay 100% of the cost to drill the second well. In addition, Apache has undertaken to assume its share of Royalty obligations to third parties. Apache will begin to select the drilling location for their 1st well.
IMI, an independent third party geological appraisal company estimated that VIC/P45 could possibly contain approximately 350 million barrels of oil and 4 TCF of gas.
ACOR owns a 7.5% of 1% ORRI under VIC/P45.
About Australian-Canadian Oil Royalties Ltd.:
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait.
ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interests and overriding royalty interests are located offshore & onshore in the best producing basins.
Visit our website at www.aussieoil.com.
Disclaimer:
Except for historical information contained herein, the statements released are forward-looking statements that are made pursuant to the provision of the Private Securities Litigation Reform Act of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
Contact:
Australian-Canadian Oil Royalties Ltd.
Investor Relations, 254-442-2638
acor@classicnet.net
--------------------------------------------------------------------------------
Source: Australian-Canadian Oil Royalties Ltd.
GSS---Undervalued rated stock
http://www.fool.com/investing/general/2007/01/25/5-more-highstar-lowpriced-stocks.aspx?source=eptyho...
Ivanhoe Energy Receives Additional Patent Protection for its Proprietary Heavy Oil Upgrading Technology
Thursday January 25, 8:19 am ET
VANCOUVER, Jan. 25 /PRNewswire-FirstCall/ - Ivanhoe Energy Inc. (NASDAQ: IVAN and TSX: IE) has received a Notice of Allowance from the U.S. Patent Office for the first of a family of additional petroleum upgrading patent applications. Since Ivanhoe Energy acquired the patented heavy oil upgrading technology (HTL) in 2005 through its merger with Ensyn Group, Inc., it has been working to expand patent coverage to protect innovations to the HTL technology as they are developed. This allowance is the first that has been granted directly to Ivanhoe Energy, and significantly broadens the company's portfolio of HTL intellectual property.
"This is a significant step for us in the development of Ivanhoe Energy's HTL technology," said Joe Gasca, Ivanhoe Energy President and COO. "This further strengthens the patent protection of the HTL technology for petroleum upgrading and opens up additional HTL patenting opportunities for Ivanhoe Energy. Not only will this be the first patent issued directly in Ivanhoe Energy's name, it also has the effect of significantly extending our HTL patent protection." All of the original HTL-related patents were issued in Ensyn's name, with exclusive rights to the patented petroleum applications granted to Ivanhoe Energy.
Counterparts to this family of U.S. patent applications have been filed and are pending in many other petroleum producing countries, including Canada and a number of countries in South America, the Middle East and Asia.
Dr. Robert Graham, Ivanhoe Energy Director and Ensyn Group co-founder said, "The allowance of this patent protection in the U.S. confirms that the HTL intellectual property is unique, inventive and proprietary. This strengthens our belief and confidence that a similar level of additional patent protection should be received in the other countries in which we have filed applications."
Ivanhoe Energy's proprietary, patented heavy oil upgrading technology (HTL) upgrades the quality of heavy oil and bitumen by producing lighter, more valuable crude oil, along with by-product energy that can be used to generate steam or electricity. In the process of targeting specific commercial applications, Ivanhoe Energy has developed what are believed to be patentable innovations, and expects that new innovations, improvements and optimizations will be continually integrated into the HTL process and protected as the HTL technology progresses.
The new patent protection will address the production of a light vacuum gas oil (VGO) product from whole and fractionated bitumen feedstocks, using Ivanhoe Energy's HTL technology. Bitumen, also called asphalt or tar, is the heaviest category of petroleum and occurs in solid and semi-solid forms and includes both naturally occurring petroleum, such as the bitumen found in the Alberta oil sands, as well as manufactured bitumens, such as vacuum tower bottoms (VTBs), which are produced from lighter oils by fractional distillation.
Ivanhoe Energy is an independent international oil and gas development and production company focused on pursuing long-term growth in its reserves and production using advanced technologies, including its proprietary heavy oil upgrading process (HTL), enhanced oil recovery (EOR) techniques and the conversion of natural gas to liquids (GTL). Core operations are in the United States and China, with business development opportunities worldwide. Ivanhoe Energy trades on the NASDAQ Capital Market with the ticker symbol IVAN and on the Toronto Stock Exchange with the symbol IE.
FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning the potential benefits of Ivanhoe Energy's heavy oil upgrading technology, the potential for commercialization and future application of the heavy oil upgrading technology, the potential that this patent will issue in countries other than the United States and that additional patents will issue in the United States and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions relating to matters that are not historical facts are forward-looking statements. Although Ivanhoe Energy believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that future patent applications may not be approved as submitted or at all, the HTL process to upgrade bitumen and heavy oil may not be commercially viable, competition and other risks disclosed in Ivanhoe Energy's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on EDGAR and the Canadian Securities Commissions on SEDAR.
CONTACT: Cindy Burnett, (604) 331-9830, Website: www.ivanhoeenergy.com
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Source: Ivanhoe Energy Inc.
instaCare Receives Favorable Resolutions in Lawsuits
-- Receives Return of 31,958,000 Original Shares of Stock Valued at Over $500K and Issued to Ronald Kelly as Part of a 2004 Acquisition -- Receives a $200,000 Judgment Against Kelly Company World Group, Inc. -- Prevails Against Investor Relations Services, Inc. on the Company's Claim That the Contract between the Two Companies Was Never Binding
NEW YORK, Jan 23, 2007 (BUSINESS WIRE) -- instaCare Corp. ( ISCR ), a leading distributor of life-saving prescription drugs and a developer of patent-pending technologies for e-health and the EMR applications, announced today it has achieved favorable resolutions in two lawsuits pending on behalf of the Company.
In the first lawsuit, the Company sued Ronald Kelly and his Company, Kelly Company World Group, Inc., together with Linda Kelly and Kimberly Kelly, in the United States District Court, for the Central District of California. The lawsuit dealt with the prior merger agreement between instaCare and certain of the defendants, and was premised on allegations of fraud, conversion and violations of the federal RICO statutes. This case was settled before trial, for a stipulated judgment against Kelly Company World Group in the amount of $200,000. In addition, the claims against Ronald Kelly were settled for the return of the 31,958,000 shares of stock that he had received as part of the consideration for the 2004 acquisition (the shares were subject to the reverse split previously effected by the Company, and the rate of 80/1). In exchange for the settlement, the complaint was dismissed by instaCare as against Ronald Kelly, Linda Kelly and Kimberly Kelly. Ronald Kelly has also agreed to provide additional information concerning the identities of present and former shareholders of instaCare with whom he dealt during and subsequent to the merger.
The amount of the stipulated judgment and the settlement for the return of the stock was, from the Company's standpoint, determined in large part by what the Company believed to be the defendants' ability to pay. The Company's forensic research provided documents and statements to the effect that Kelly Company World Group, Inc. and Ronald Kelly were subject to substantial judgments in other states, and that the chances of any large collection were unlikely.
In the second lawsuit, the Company brought suit against Investor Relations Services, Inc. and Summit Trading, Ltd. for a declaration that the alleged contracts between the Company and those entities were not binding and were therefore unenforceable. Investor Relations Services and Summit Trading cross-complained, alleging that (1) the contracts were enforceable, (2) pursuant to those contracts, those entities were entitled to 10% of the outstanding stock in the Company at such time as they might choose to exercise their "option," and (3) they were entitled to damages against the Company's CFO, Keith Berman, for intentional interference with the alleged business relationship between the Company and those entities.
The Superior Court for the State of California, in Los Angeles County, has issued its decision, relieving instaCare of any obligations to Investor Relations Services or Summit Trading, finding that the alleged agreements were not properly authorized or executed, and that they never became binding upon instaCare by reason of the lack of approval by the Company's Board of Directors. At the same time, the court found against Investor Relations Services and Summit Trading, in all respects, on their cross-complaint. The court has further found that instaCare and Keith Berman are deemed the prevailing parties in this litigation. The importance of that finding is that instaCare, under California law, will most likely be entitled to recover its reasonable attorney's fees in this litigation. Litigation counsel for the Company will be petitioning the court for such fees shortly, and management has indicated that it intends to pursue enforcement of the judgment.
"With these two challenges now behind us, we are again focused squarely on the continued execution of our business and acquisitions plans, which we believe will enable the Company to achieve significant growth objectives and deliver shareholder value," stated Robert Jagunich, Chairman of the Board. "We are pleased that we were able to achieve a positive resolution in the Kelly Litigation, and that the court sided with instaCare in the Investor Relations Services/Summit Trading Litigation, allowing us to protect the company and its shareholders from what we considered to be an outrageous and unconscionable contract, and recognizing the good faith of the position adopted by the Company. We remain committed to the highest ethical standards, and expect our employees, officers and vendors to conduct their business both ethically and professionally."
Forward-Looking Statements:
This release contains forward-looking statements about our business or financial condition that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this release, words such as "believes," "expects," "forecasts," "intends," "projects," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain statements not accompanied by such expressions. Wasserman Morris & Company has been compensated twenty-five thousand dollars by a third party for preparing the report.
For further information, visit the company's Web Site: http://www.instacare.net or http://www.caredecision.net
SOURCE: instaCare Corp.
instaCare Corp.
Keith Berman, 805-446-1973
kmb@instacare.net
or
Investor Relations Contacts:
Lippert/Heilshorn & Associates, Inc.
Kim Sutton Golodetz/Lisa Lindberg, 212-838-3777
kgolodetz@lhai.com
llindberg@lhai.com
Copyright Business Wire 2007
AUCF--2nd Well in the Eleven (11) Well Drilling Program Strikes Oil - 3rd Well Thungo 10 Spuds on ATP 267 under ACOR's ORRI Located Approximately 5 miles from the 2nd Largest Onshore Oil Field
Monday January 22, 9:45 am ET
CISCO, Texas--(BUSINESS WIRE)--Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF - News) is pleased to announce that the JV partner of ATP 267 has cased and suspended the Thungo 9 well as a future oil producer on ACOR's ORRI.
The Thungo 9 well is located in PL 51 of the Nockatunga Block of ATP 267 and was the second well of the eleven (11) well drilling program in the Nockatunga Block in the Cooper Basin of southwest Queensland.
Thungo 9 spudded on January 8th and was drilled to a Total Depth of 4,560 feet. Trace fluorescence with slow bleeding cut was observed in the Coorikiana Sandstone over the interval 2,001 - 2,135 feet. The Murta Member, the primary oil target, had fluorescence up to 80% and associated gas shows. The electric logs indicated approximately 26 feet of net pay in the Murta Member. Production casing was run and the well was suspended as a future Murta oil producer.
The PDI 721 rig was released on January 14th and moved to the Thungo 10 location. The 3rd well of the eleven (11) well drilling program in the Nockatunga Block in the Cooper Basin of southwest Queensland, the Thungo 10 well on ACOR's ORRI spudded on January 15th. Surface casing had been set at a depth of 613 feet and the well was drilling ahead at 1,430 feet.
A total of five wells will be drilled on the Thungo oil field targeting oil in the Murta Member and the Birkhead Formation.
About the Eleven (11) Well Drilling Program on ACOR's ORRI:
The eleven (11) well drilling program is designed to appraise the Birkhead oil pool discovered in the Muthero 3 well in December 2005 on the Muthero oil field.
The Muthero 3 appraisal well is located in the Petroleum License (PL) 51 on ACOR's ORRI. Muthero 3 was drilled to a total depth of 4692 feet. Oil shows were encountered in the Birkhead Formation and Murta Member during drilling. DST-1 flowed oil on final flow at 1030 BOPD through a 1/2" choke at 25 psi. Muthero 3 was cased and suspended as a future Birkhead oil producer. The Muthero 3 well commenced production at around 525 BOPD in February 2006.
The wells are drilled in 6 to 10 days and connection of successful wells is targeted in 40 to 60 days. The successful wells will be completed and connected to existing oil production facilities which will be upgraded to handle the anticipated increased production volumes on ACOR's ORRI.
About ATP 267:
ATP 267, including Petroleum License (PL) 33, 50 & 51 consists of approximately 220,800 gross acres and is located in Queensland Australia in the prolific Cooper/Eromanga Basin. The western border of ATP 267 is located approximately 5 miles from the Jackson Oil Field. The Jackson Oil Field is Australia's 2nd largest onshore oil field and has reserves in excess of 40,000,000 barrels of good quality crude oil or approximately $2.2 Billion Dollars at current crude market prices.
Three wells were drilled on ATP 267 during the 2005 drilling program; Muthero 3, Winna 4 and Currambar 1. All three wells were successful on ACOR's ORRI.
ACOR management is excited about the discoveries made in 2005 on ATP 267 and is very excited about the successful beginning of this eleven (11) well drilling program and the potential revenue that could be generated for the company.
ACOR owns 17.15% of 1% ORRI under ATP 267 which include Petroleum License 33, 50, & 51.
About Australian-Canadian Oil Royalties Ltd.:
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait.
ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interests and overriding royalty interests are located offshore & onshore in the best producing basins.
Visit our website at www.aussieoil.com.
Disclaimer:
Except for historical information contained herein, the statements released are forward-looking statements that are made pursuant to the provision of the Private Securities Litigation Reform Act of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
Contact:
Australian-Canadian Oil Royalties Ltd.
Investor Relations, 254-442-2638
acor@classicnet.net
--------------------------------------------------------------------------------
Source: Australian-Canadian Oil Royalties Ltd.
Check out investing in the Iraq Dinar$$$$
http://www.investorshub.com/boards/board.asp?board_id=7851
zero
when did you add me as assist?
I didn't know about it until I looked at my profile!!!
I guess I better board mark, huh? lol
I like ILCO management and the company! Looking solid!
ILCO Float: 349,200,617M
I know your max is 250 but thought it might be worth
considering since it's recent solid Stepping activity...FWIW
The transfer agent is Standard Registrar...UNGAGGED
their number is 801.571.8844.
Imminent 50/200ma Golden Cross here.
Golden Star Reports Progress in Commissioning of Bogoso Sulfide Expansion Project
Wednesday January 10, 9:17 am ET
DENVER, January 10 /CNW/ - Golden Star Resources Ltd. (AMEX: GSS - News; TSX: GSC - News) today updated progress on its Bogoso Sulfide Expansion Project at the Bogoso/Prestea property in Ghana.
The current status of the construction and commissioning activity is as follows:
The 2,200 tonnes per hour gyratory crusher was commissioned in
October and is fully operational, crushing low grade carbonate ore for
non-refractory circuit feed;
-- The new ball mill was commissioned in October and the semi-autogenous
grinding mill was commissioned in December. Both mills are operating and
providing non-refractory slurry feed for the carbon-in-leach ("CIL") circuit;
-- The existing CIL plant continues to process non-refractory ore. The
new CIL circuit is operational and processing non-refractory ore, thereby
increasing our throughput capacity;
-- The BIOX(R) Module 1, Reactor Tanks 1 and 2 are operational,
utilizing previously stockpiled refractory concentrate. Reactor Tanks 3 and 4
are being commissioned with the build up of inoculate;
-- The BIOX(R) Module 1, Reactor Tanks 5, 6 and 7 (smaller, secondary
tanks) are expected to be commissioned in February 2007;
-- BIOX(R) Module 1 coolers and blowers were commissioned in December
and are operational;
-- BIOX(R) Module 1 neutralization tanks and counter-current decantation
thickeners are expected to be commissioned at the end of January 2007 in time
for refractory ore feed in February 2007;
-- The new flotation circuit (not required until refractory ore is
milled) is 70% complete with completion expected in February 2007. An
expansion to the flotation circuit which commenced in 2006, is expected to be
commissioned in March 2007;
-- The new elution plant (not required until all BIOX(R) tanks are
commissioned) is progressing according to schedule;
-- Paddock dam transfer pumping and piping system to feed stockpiled
refractory concentrate to the BIOX(R) plant is operational;
-- Stockpile buildup of refractory ore is advanced and approximately one
million tonnes have been placed on the stockpile; and
-- Work on other areas which are not required until all BIOX(R) tanks
are full is well progressed.
Once we begin to mill refractory sulfides (expected to begin in February
2007) we plan to cease processing oxide ore through the sulfide plant and to
start processing refractory sulfide ore. This should allow the flotation
circuit to be commissioned and flotation concentrate to be fed to the BIOX(R)
tanks on a continuous basis. Oxide and non-refractory sulfide ores will
continue to be processed through the existing Bogoso CIL plant as currently
configured.
Peter Bradford, President and CEO said: "We are generally pleased with
the construction and commissioning of the Bogoso Sulfide Expansion Project.
The BIOX(R) Module 1 is in partial operation, has been loaded with sulfide
concentrate and the inoculation process continues. Of note, the bacteria have
responded very well to the sulfide concentrate feed with good activity levels.
Typical commissioning problems for plants of this size and complexity have
arisen but we are encouraged by the speed and efficiency of our personnel, the
consultants and contractors on site to resolve them. We now expect Module 1 of
the BIOX(R) circuit to be fully commissioned in February, Module 2 to be
commissioned in March and design operating throughput to be achieved soon
thereafter and ramp up to design metallurgical recoveries over the following
few months."
Company Profile
Golden Star holds a 90% equity interest in the Bogoso/Prestea and Wassa
open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in
the currently inactive Prestea Underground mine in Ghana, as well as gold
exploration interests elsewhere in Ghana, in other parts of West Africa and in
the Guiana Shield of South America. Golden Star has approximately 208 million
shares outstanding.
Statements Regarding Forward-Looking Information: Some statements
contained in this news release are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Investors are
cautioned that forward-looking statements are inherently uncertain and involve
risks and uncertainties that could cause actual results to differ materially.
Such statements include comments regarding the timing of the completion,
commissioning, and commencement of operations of the Bogoso Sulfide Expansion
Project and various components of the Project. Factors that may affect such
commencement of operations include delays in receiving needed equipment and
parts, design modifications during commissioning, power shortages and
interruptions, weather including excessive rainfall or drought. There can be
no assurance that future developments affecting the Company will be those
anticipated by management. Please refer to the discussion of risk factors in
our Form 10-K for 2005.
For further information
Golden Star Resources Ltd. Peter Bradford, 800-553-8436 President and CEO or Bruce Higson-Smith, 800-553-8436 Vice President Corporate Development or Anne Hite, 800-553-8436 Investor Relations Manager
--------------------------------------------------------------------------------
Source: Golden Star Resources Ltd.
PGDP Megaphone Bottom Play Good Luck.
AUCAF--Wilpinnie-4 Well Spuds on PEL 115 on ACOR's ORRI Updip from Wilpinnie-3 IP 785 BOPD Discovery
Wednesday January 10, 10:55 am ET
CISCO, Texas--(BUSINESS WIRE)--Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF - News) is pleased to announce that the PEL 115 Joint Venture advises that the Wilpinnie-4 has spudded on ACOR's ORRI and was drilling ahead in 10 5/8 inch hole at approximately 866 feet.
The Tomcat Prospect as mapped by the PEL 115 JV covers an area of approximately 1.1 miles with 63% of the prospect present within the northern portion of PEL 115 on ACOR's ORRI and 37% present within the adjoining PPL 93. The Tomcat Prospect is interpreted from seismic data to have the potential to contain recoverable oil in the range of 3.5 million barrels to 5.6 million barrels, if oil is present.
Wilpinnie-4 is being drilled approximately 656 feet northwest and up dip of the Wilpinnie-3 well which on an open hole drill stem test of the mid Namur sand interval from 4855-4901 feet measured depth flowed 45 degree API oil to surface on a one half inch choke at an initial rate of 785 barrels of oil per day. Wilpinnie-3 lies in the northern portion of PPL 93 and was drilled in 1993.
The PEL 115 JV partners interprets that Wilpinnie-3 was drilled close to the oil-water contact of the interpreted Tomcat Prospect closure. Wilpinnie-4 which has been sited to be up dip to Wilpinnie-3 could test a greater oil column than encountered in Wilpinnie-3, if the seismic interpretation of the Tomcat Prospect is valid.
The Tomcat Prospect is interpreted as a tilted fault block with a stratigraphic component with the crestal culmination at the mid Namur horizon within PEL 115 and up dip and .68 miles north of Wipinnie-3.
About PEL 115
PEL 115 on ACOR's ORRI consists of 273,297 gross acres and is divided into six (6) separate tracts. PEL 115 surrounds the oil & gas producing fields at Dullingari, Toolachee, Strzelecki, Della, and Kidman with cumulative recoverable reserves of approximately 104 million barrels of oil and approximately 2.5 TCF of gas or approximately $12.6 Billion dollars using current market prices for crude oil and $US2.50 per mcf for gas.
About Australian-Canadian Oil Royalties Ltd.:
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait.
ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interests and overriding royalty interests are located offshore & onshore in the best producing basins.
Visit our website at www.aussieoil.com.
Disclaimer:
Except for historical information contained herein, the statements released are forward-looking statements that are made pursuant to the provision of the Private Securities Litigation Reform Act of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
Contact:
Australian-Canadian Oil Royalties Ltd.
Investor Relations, 254-442-2638
acor@classicnet.net
--------------------------------------------------------------------------------
Source: Australian-Canadian Oil Royalties Ltd.
uWink Featured on Tonight's Episode of Reality TV Show ``Top Chef''
Wednesday January 10, 8:25 am ET
Get a Glimpse into the Creation of a New Restaurant Concept
LOS ANGELES--(BUSINESS WIRE)--uWink, Inc. (OTCBB:UWNK - News), an entirely new restaurant concept that combines food, drinks, and entertainment, today announced that its initial restaurant in Woodland Hills, Calif., will be featured tonight on the hit reality TV show, "Top Chef," on BRAVO. Shot last summer before uWink opened, "Top Chef" filmed in uWink's kitchen and "shell" before construction was completed or technology installed. The show provides a glimpse into uWink's "before" and "after."
uWink is a new dining and entertainment concept from Nolan Bushnell, founder and former CEO of Atari and Chuck E. Cheese, where guests order food, drinks and media - such as games, comedy shorts and horoscopes - directly via touchscreen terminals at their tables. Patrons can play video games or participate in trivia contests, while they wait for their food to arrive.
"uWink is a unique concept, where food, presentation and fun come together to create the ultimate dining experience, which is exactly what the "Top Chef" contestants are striving to achieve in order to win," said Nolan Bushnell, chief executive officer at uWink, Inc. "This episode is providing us an opportunity to show the restaurant before the magic was added and showcases our unique dining concept. "Top Chef" couldn't have been a better fit for our TV debut."
The "Top Chef" episode follows the contestants as they prepare a complete dining experience in an attempt to stay on the show to compete for $100,000 and a feature in Food & Wine magazine.
There will be a live viewing of the episode at uWink, located at the Westfield Promenade in Woodland Hills, Calif., at 10 p.m. PT, and local fans are invited to attend.
uWink, Inc. is a publicly-held digital entertainment company based in Los Angeles, California that develops interactive entertainment for restaurants, bars, and mobile devices. Led by entertainment and restaurant visionary Nolan Bushnell, founder and former CEO of Atari and Chuck E. Cheese (NYSE: CEC - News), uWink recently launched a new entertainment dining experience called uWink that leverages uWink's proprietary network and entertainment software. The first uWink restaurant opened in October 2006 in the Los Angeles area. For more information visit: www.uwink.com.
Contact:
uWink
Alissa Bushnell, 415-235-9532
alissa@uwink.com
or
104 West Partners
Ashley Cox Cohen, 303-522-0783
ashley.cohen@104degreeswest.com
--------------------------------------------------------------------------------
Source: uWink, Inc.
Golden Star Schedules 2006 Year-End Results Conference Call and 2007 Quarterly Results Release Dates
Tuesday January 9, 7:00 pm ET
DENVER--(BUSINESS WIRE)--Golden Star Resources Ltd. (TSX: GSC - News; AMEX: GSS - News) will release its 2006 year-end results after the market close on Tuesday, March 13, 2007, and has scheduled a conference call and webcast on Wednesday, March 14, at 11:00 a.m. Eastern Time (9:00 a.m. Mountain Time). The conference call will allow investors and analysts the opportunity to speak with the Company's management. Please call in at least five minutes prior to the conference call start time to ensure prompt access to the conference. You can access the call by telephone or by webcast:
North American participants - 800-901-5241; passcode: 35973658
International participants outside U.S. and Canada - 617-786-2963;
passcode: 35973658
Webcast: www.gsr.com
A recording of the teleconference will be available for up to 30 days through the Company's website at www.gsr.com and it also will be available for 30 days by dialing:
North America - 888-286-8010; passcode: 59919633
International outside U.S. and Canada - 617-801-6888; passcode:
59919633
2007 RELEASE DATES
The Company expects to release information in 2007 on the following dates, after market close, with a teleconference and webcast the following day at 11:00 a.m. EST:
First Quarter Report for 2007 May 8, 2007
Second Quarter Report for 2007 August 7, 2007
Third Quarter Report for 2007 November 6, 2007
Golden Star holds a 90% equity interest in the Bogoso/Prestea and Wassa open-pit gold mines in Ghana. In addition, the Company has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in West Africa and in the Guiana Shield of South America. Golden Star has approximately 206 million common shares outstanding.
Contact:
Golden Star Resources Ltd.
Bruce Higson-Smith, Vice President Corporate Development
or
Anne Hite, Investor Relations Manager
800-553-8436
ISCR has a contracts with JNJ and IVC! Read page 2 of 14 and 5 of 14! This company looks like a hidden gem!
http://harbingerresearch.com/data/ISCR%20instaCare%20Harbinger%20Research%20Report%20%2012.19.06.pdf
Caribou Coffee (CBOU) Chairman and Chief Executive Officer to Ring the NASDAQ Stock Market Opening Bell
ADVISORY, Jan. 8, 2007 (PRIME NEWSWIRE) --
What:
Michael Coles, Chairman and Chief Executive Officer of Caribou
Coffee Company, Inc. (CBOU), will preside over the opening bell to
celebrate the Company's first full year of listing on NASDAQ.
Where:
NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio
When:
Tuesday, January 9, 2007 at 9:30 a.m. ET
Contacts:
Garet Hayes
Office: 404-604-2602; Mobile: 770-403-8720
ghayes@hopebeckham.com
NASDAQ MarketSite:
Jolene Libretto; 646.441.5220; mobile - 347.219.9539
Jolene.Libretto@NASDAQ.com
Feed Information:
The opening bell is available from 9:20 a.m. to 9:35 a.m. on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can also be found on Waterfront fiber 1623. If you have any questions, please contact Jolene Libretto at (646) 441-5220.
Webcast:
A live Webcast of the NASDAQ Opening Bell will be available at: http://www.nasdaq.com/reference/marketsite_about.stm
Photos:
To obtain a hi-resolution photograph of the Market Open, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market open of your choice.
About Caribou Coffee (CBOU):
Caribou Coffee Company Inc. (Nasdaq:CBOU), founded in 1992 and headquartered in Minneapolis, Minnesota, is the second largest, company-owned, gourmet coffeehouse operator in the United States based on the number of coffeehouses. Caribou Coffee operates 464 coffeehouses, including 24 licensed locations. Caribou Coffee's coffeehouses are located in 18 states and the District of Columbia. Caribou Coffee offers its customers high-quality, gourmet coffee and espresso-based beverages, as well as specialty teas, baked goods, whole bean coffee, branded merchandise and related products. Caribou Coffee also sells products to club stores, grocery stores, mass merchandisers, office coffee providers, airlines, hotels, sports and entertainment venues, college campuses and other commercial customers. In addition, Caribou Coffee licenses third parties to use the Caribou Coffee brand on quality food and merchandise items. Caribou Coffee focuses on creating a unique experience for customers through a combination of high-quality products, a comfortable and welcoming coffeehouse environment and customer service. For more information, visit the Caribou Coffee Web site at www.cariboucoffee.com.
Source: PrimeZone (January 8, 2007 - 10:25 AM EST)
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