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Surprised GUSH has not moved over a buck on yesterday's news.
GUERNSEY, Channel Islands--(BUSINESS WIRE)--Feb. 25, 2004--CanArgo Energy Corporation ("CanArgo") (OTCBB:GUSH - News; OSE:CNR) is pleased to announce that gross total proved oil reserves at its Ninotsminda Field in Georgia at January 1, 2004 have increased by 63% to 6.76 million barrels.
The reserves appraisal report effective January 1, 2004 was prepared by Oilfield Production Consultants (OPC), independent petroleum consultants, in accordance with SEC classifications and guidelines. Gross total proven oil reserves for the Ninotsminda Field increased from 4.15 million barrels (mmbbls) at the end of December 2002 to 6.762 mmbbls at January 1, 2004. Over the same period, natural gas reserves, on an energy equivalent basis, decreased from 1.34 million barrels of oil equivalent (mmboe) to 0.51 mmboe.
The significant increase in recoverable oil reserves results primarily from the completion of a dynamic reservoir model during the year and the implementation of a successful development programme based on horizontal drilling. However, recovery of these reserves is dependent on application of optimal production levels for the Ninotsminda wells and further application of horizontal drilling techniques. Independent petroleum engineering specialists recommend that the optimal long-term production rate for these horizontal wells be of the order of 500 bopd. In order to maximise productivity and recoverability from the field, wells are being choked back to the approximate recommended levels while it is planned that future horizontal wells should be drilled under-balanced (i.e. producing whilst drilling) using coiled tubing once this is available in the country.
CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in the Republic of Georgia, Ukraine and the Caspian Sea. Further information on the Company is available at www.canargo.com and at http://www.sec.gov.
The matters discussed in this press release include forward looking statements, which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward looking statements. Such risks, uncertainties and other factors include the uncertainties inherent in oil and gas development and production activities, the effect of actions by third parties including government officials, fluctuations in world oil prices and other risks detailed in the Company's reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. The forward-looking statements are intended to help shareholders and others assess the Company's business prospects and should be considered together with all information available. They are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The company cannot give assurance that the results will be attained.
--------------------------------------------------------------------------------
Contact:
CanArgo Energy Corporation
Julian Hammond, +44 1481 729980
Mobile: +44 7740 576139
+44 1481 729982 (FAX)
info@canargo.com
www.canargo.com
RCO on the move for the second day in a row. Now at .72 +.03. Needs more volume though. Jim
UVCL just broke .035 resistance and is now at .038 on heavy volume. Maybe only the start. Jim
UVCL about to break resistance of .035. Now right there. Jim
Pat ETCR has had a little more activity lately, but still not enough volume to mean anything. No news out there. I am just waiting for the next pump so I can unload. Jim
Pat you still have ETCR? Bout time for it to be pumped. Can it get to a nickel? Jim
Nice PR Frank. Price moving up. Let's get back to the .002's today. Jim
UVCL now at that .035 +75% wall. Jim
HEC volume and price pickup the last half hour. Now at 1.14 +05. News of settlement with Costa Rica this week may be the reason for the move. Jim
HEC volume and price pickup the last half hour. Now at 1.14 +05. News of settlement with Costa Rica this week may be the reason for the move. Jim
UVCL action picking up here. Now at .027 +35%. Jim
stinkeye XTRN is hard to figure. They have a special shareholder meeting on 3/24 to decide on selling their intellectual properties for 4 million. They will be a shell after that with some good tax loss carryforward for an interested buyer. Bottom line they will have about .30 in cash per share and are now selling for only .11. Makes no sense. I am holding this one for the payoff which may take a few months. Jim
John lots of new folks playing QBID for the current move. Many in at levels equal to and above where it is priced at now. I think many will stay around for next bounce to the .002 plus range. My guess is that without news and with this market getting back on track, QBID will again be a double from here in a short term move. This would be over a 1 or 2 day period. Jim
John considering the crappy market the last week, QBID is doing just fine. Now if we can get Frank to be quiet a bit longer, it should turn up when the market does. Jim
Call me crazy, but I am hoping this drop will be temporary. I may add some here. Jim
Sometimes its better for Frand to keep his mouth shut. Price dropping since his latest comments. Jim
TCOW looking good. Now up 11% to .60 on 6 X average volume. This is a profitable company that should be much higher. Jim
TCOW looking good. Now up 11% to .60 on 6 X average volume. This is a profitable company that should be much higher. Jim
John thanks much for all that info on brokers. I have just printed it out for future reference.
My inquiry was for brokers that trade bb and pinks in the pre-market and after hours. I use Schwab and they don't limit trading of these stocks during the regular session, but do in PM and AH. Executions of bb and pink trades are poor by Schwab and costly if the share price is less than a $1 and the pricipal trade amount is greater than $1000. End up being a 3% or 1% commission depending on how active the account is. BTW they allow me up to 5000 shares for a trade before I get into any additional charges over the going rate for the account. My low activity account trades are 29.95 and high activity accounts are 14.95. They provide excellent service with the exception of executions on bb and pinks.
Jim
I see there is some trading of QBID in the PM. Now up 23% to .0027. What brokers allow PM trading of pinks? Jim
Bout time for ISYN to have a bounce. Now at .085 +37%. Jim
Two analysts just discussed MTV's plan for a G&L cable channel on Fox's Cavuto show. Both thought there is potential $$ in this, but it will be slow developing revenues. Jim
QBIB big question? Will it pass current resistance at .0014 before the end of the day. Jim
DSLN on a second wave now at .73 +.04. Not going to get your 15 million shares today, but volume has picked up a lot in the last 10 minutes. Now over 8.6 million. One of these days this one will have a real move. I think that will be sooner rather than later. Jim
Now the big VRA sellers have another million offered at .35. They just don't want this one to run. Jim
Elvis AVR has the same problem. With a large seller at .34 too. Jim
VRA seller at .34 offering over a million shares. Tough getting past that. Jim
OK Elvis we have 710K at .33 for VRA. Take it out and we are on our way to .40. Do it for the team. LOL. Really, looks like we have seen the hod. Too bad. Buzz probably made the correct move by getting out for now. Jim
Elvis it will be tough to get VRA to .34. Everytime it gets near we get a large seller with 800K that scares the crowd off. Now if you would buy the 800K we could move on. <G> Jim
AVR is now up to .35 +21%. Most in the last 5 minutes. Jim
RCO break out. Now at .82 +.07. Lots of volume the last five minutes. Jim
RCO break out. Now at .82 +.07. Lots of volume the last five minutes. Jim
VRA up 14% to .32 on heavy volume in PM. AVR doing well also. Now up to .33 but on light volume. May just be VRA's turn today. Jim
Who cares AVR or VRA. <G> I'm in both. Neither has news but both moving on volume. Go figure. Jim
USTI doing well on news. Now at .094 +42%. This is a profitable stock. Go figure why it is priced so low. Jim
USTI doing well on news. Now at .094 +42%. This is a profitable stock. Go figure why it is priced so low. Jim
Hope you are right on USTI. Now up 21% to .08 on news. Tuesday January 27, 11:06 am ET
DALLAS--(BUSINESS WIRE)--Jan. 27, 2004--United Systems Technology, Inc. (OTC:USTI - News) announced today that it had redeemed its outstanding Series B and Series E preferred stock, including all accrued and unpaid dividends, for a total cash price of $1,500,000.
"We are pleased to have been able to generate sufficient cash flows from operations in the past few years to allow us to fund continuing operations, the development of competitive products, completion of several acquisitions as well as this payment to retire the remaining preferred stock that has been accruing dividends," commented Tom Gibbs, Chief Executive Officer. The 500,000 shares of Series B preferred stock were issued in October 1988 and had a par value of $1.00 per share. As of December 31, 2003 the Series B preferred stock had accrued and unpaid dividends of $533,800. The 300,000 shares of Series E preferred stock were issued in June 1991 and had a par value of $1.00 per share. As of December 31, 2003 the Series E preferred stock had accrued and unpaid dividends of $263,735. Both series of preferred stock accrued dividends at a rate of $.07 per share per annum.
This Press Release contains forward-looking statements, other than historical facts, which reflect the view of Company's management with respect to future events. Such forward-looking statements are based on assumptions made by and information currently available to the Company's management. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from such expectations include, without limitation, the ability of the Company i) to generate levels of revenue and adequate cash flows from its operations to support and maintain its current cost structure and ii) to develop and deliver products that are competitive, accepted by its markets and are not rendered obsolete by changing technology. The forward-looking statements contained herein reflect the current views of the Company's management with respect to future events and are subject to these factors and other risks, uncertainties and assumptions relating to the operations, results of operations and financial position of the Company. The Company assumes no obligation to update the forward-looking statements or to update the reasons actual results could differ from those contemplated by such forward-looking statements.
USTI develops, markets and supports application software for select vertical markets in both the for profit and not for profit sectors. The software applications operate in IBM midrange, network and single user PC platforms. USTI and its subsidiaries have over 2,100 installations in the United States and Canada.
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Contact:
United Systems Technology, Inc., Dallas
Randy McGee, 972-402-8600
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Source: United Systems Technology, Inc.
Big seller at .38 on DIO. Seems to happen a lot during the current run the last week or so. Seems to be a very controlled advance. Jim
OMNI how high for NNOS should it break .25? TIA Jim
This news may give a nice bounce to SEHO today. Findit
1/26/04
BOCA RATON, FL, Jan 26, 2004 (M2 PRESSWIRE via COMTEX) --
Genesis Technology Group, Inc. (OTCBB: GTEC) announced today the signing of three new contracts in January 2004: (a) a collaboration agreement with Global Boardroom Solutions, a Latin American liaison group headquartered in South Florida; (b) Sense Holdings, Inc. (OTCBB: SEHO), a Florida-based leader of biometric solutions; and (c) Clear Imaging Alternatives, Inc., an Atlanta-based company dedicated to marketing the patented CLEARAIR Plus in China.
Additionally, the Company will co-host the national launch of its CIIC joint venture and two conferences highlighting how elite Chinese companies can enter the US capital markets. These events will be co-sponsored by China Ministry of Science and Technology, China International Intellectech Corporation and Shanghai United Exchange in the cities of Shanghai and Hangzhou on February 24th and 26th, respectively
Mr. Dennis Custage, founder of Global Boardroom Solutions, observed: 'We attended the recent Genesis China Roundtable in Fort Lauderdale. The Genesis team made a compelling case for exploring the vast Chinese markets, and we are confident that Genesis is a qualified pathfinder. Genesis boasts an impressive history and its China network is formidable.''Global Boardroom Solutions affords Genesis with the opportunity to expand our China network to the lucrative Latin American markets,'explained CEO Gary Wolfson. 'During our board meeting in Shanghai on November 13, 2003, directors concurred that Latin America could be a prime market for Chinese companies. In fact, we are commencing discussions with major Chinese enterprises to secure licensing agreements for qualified representatives in that region. Our Director Dr. Li Shaoqing will lead this effort.'
Mr. Custage then continued: 'South Florida is undeniably the gateway to Latin America, in reality the financial center of commerce for the region.
Importantly, the Ministry of Commerce in Beijing recently reported that trade volume between China and Latin America exceeded $25 billion, growing by nearly 50 percent, in 2003. These facts have encouraged GBS to align with Genesis and construct an ambitious program for multilateral trade.'
In the area of expanding its client base, Genesis Director of Business Development, Ms. Xun Mei DelSesto, reported: 'We have added two innovative technology companies to our roster: Clear Imaging Alternatives and Sense Holdings. CIA will market the patented CLEARAIR Plus in China. This device can be fitted to any petrol or diesel engine and greatly reduces harmful emissions.
The Chinese government has instituted rigorous engine emission regulations, even exceeding those in the United States. These standards offer an enticing opportunity for CIA.
'Also, we will represent Sense in China to pursue business opportunities including merger &acquisition, locating partners, technology transfer and sourcing a manufacturing base. We believe that Sense's leading technologies- including biometrics, smart card, and explosive detection nanotechnology-will arouse serious interest. Numerous industries-aviation, banking and finance, education, food preparation, gaming, garment, healthcare, hotel, insurance, law enforcement, manufacturing, military, public safety, security, restaurant, retail, and transportation applications-with industry-specific calibration in Chinese, comprise the target markets for Sense.'commented by Ms. Delsesto.
Mr. Kenneth Clinton, Chief Operating Officer of the Company, added: 'During our February mission to China, Genesis will co-host the national launch of the CIIC joint venture in which Genesis owns a 10 percent equity stake. With the national media in attendance, Dr. James Wang and I will represent our Company in the cities of Shanghai and Hangzhou to present our company and services to an audience of about 60 to 80 elite Chinese private companies.
'Under the direct administration of the State Council, the China cabinet, CIIC is a leading state owned enterprise featuring unique operations in techno intellectual service trade. Since 1994, it has been among the top ten of the country's 955 foreign economic related companies. CIIC had annual revenues over $400 million in 2002,' concluded Mr. Clinton.
About Global Boardroom Solutions
Global Boardroom Solutions (GBS) develops and implements strategies for businesses that seek profitable growth beyond their home markets, or seek to resolve issues related to their international activities. Solutions related to market entry, alliances, joint ventures, risk mitigation and change management in cross-cultural environments are custom tailored by eleven experienced senior international executives, located in North America, Latin America and Europe.
Client requirements are handled directly by partners who have successfully run international businesses for companies such as IBM, Xerox, Nortel, Bunge Born, Purina, Conagra, Black &Decker, Firestone, Ryder, Time-Life, Young &Rubicam and others. (For reference, visit www.boardsolutions.com)
About Sense Holdings, Inc.
Sense Holdings, Inc.,(OTCBB: SEHO) was incorporated in the state of Florida in July 1998, is a leading provider of biometric solutions, and micro-sensor identification systems. SENSE Holdings, Inc. is comprised of two wholly-owned subsidiaries, SENSE Technologies, Inc., a leading manufacturer of biometrically secured authentication and identification systems, and MSTI, Inc., a leading micro-sensor explosives detection research and development organization. MSTI holds patents and intellectual property that enable explosives detection, authentication, and identification. SENSE Holdings, Inc. integrates advanced biometric and microelectromechanical sensor (MEMS) technology into mechanical and electronic control devices that improve and secure many business processes.
Sense develops products targeting Homeland Security, and offers solutions that improve and secure many businesses, military, and personal processes. Sense owns patents and intellectual property for MEMS based explosives detection technology licensed through a national government laboratory. The company has focused its efforts on the Homeland Security initiative. These products coupled with Sense's biometric solutions offer a complete product showcase for Time and Attendance, Homeland Security, and Nanotechnology. (For reference, visit www.senseme.com)
About Clear Imaging Alternatives, Inc.
Clear Imaging Alternatives, Inc. ('CIA') is a firm with the primary focus of offering state of the art technology solutions across the spectrums of computer imaging peripherals, wireless broadband, and most recently emissions and fuel savings technology targeting all internal combustion engine applications.
C.I.A., Inc. is headquartered in Atlanta, Georgia. Identified as a valuable product for the Chinese markets, CIA's CLEARAIR PlusT is a patented device, which can be fitted to any petrol or diesel internal combustion engine in about 30 minutes. It is 100% reliable, affordable, it has no moving parts, is maintenance free and warranted for 250,000 miles or 5 thousand operating hours.
(For reference, visit www.clear-alternatives.com and www.clearairplus.com)
About China International Intellectech Corporation
China International Intellectech Corporation (CIIC) was founded in 1987. Under the direct administration of the state council, it is a leading state owned enterprise featuring unique operations in techno intellectual service trade.
Funded solely by the State Planning Council, Beijing based CIIC is guaranteed by the Bank of China. Since 1994, it had been among the top ten of the country's 955 foreign economic related companies. CIIC's primary business is to provide various services to foreign enterprises. CIIC conducts international placement services for 3,300 companies in 76 countries and regions. It had annual revenues over $400 million in 2002. (For reference, visit www.ciic.com.cn)
About Genesis Technology Group, Inc.
Genesis Technology Group is a business development firm that fosters bilateral commerce between companies in the United States and Europe with those in China.
Genesis has created successful profit centers in product development, manufacturing, distribution, joint ventures and operational services. Genesis has established effective working relationships with various governmental agencies, public institutions, and private industries in China at both national and provincial levels. The Company also aims to play a key role in assisting small to mid-size Chinese private companies that desire growth, to expand their business with the financial and operational support of the Genesis. (For reference, visit www.genesis-technology.net)
This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the company's limited operating history, the limited financial resources, domestic or global economic conditions - especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the company's business and financial results is included in the Company's filings, available via the United States Securities & Exchange Commission.
CONTACT: Kenneth Clinton, Chief Operating Officer, Genesis Technology Group, Inc. Tel: +1 561 988 9880 x 303 Fax: +1 561 988 9890 e-mail: kclinton@genesis-technology.net
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
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