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SessionsIR.com: Lexington Resources Announces Participation in CBM Well


By M2
Last Update: 4/7/2006 8:09:53 AM Data provided by

Apr 07, 2006 (M2 PRESSWIRE via COMTEX) -- Stocks in the News: Biogenerics Limited (BIGN), Lexington Resources, Inc. (LXRS), Blue Dolphin Energy Co. (BDCO), BP PLC (BP)

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On Wednesday, Biogenerics Limited (BIGN) announced the location of its new head office, which will be relocated to 1520 Rice Road, Suite 200, Tyler, Texas, 75703. Not only is the Tyler head office an indicator of Biogenerics growing presence in the oil and gas industry, it also a reflection of the company's growth strategy which focuses on the employment of its strategic partners proprietary technology, such as Hydroslotter Corporation's enhanced oil recovery techniques in existing wells. For more information, please visit http://biz.yahoo.com/pz/060405/96877.html On Thursday, Lexington Resources, Inc. (LXRS) announced its participation in a horizontal Coal Bed Methane ("CBM") well interest with Orion Exploration, LLC ("Orion"). The Company and its Arkoma Basin CMB exploration-drilling partner Dylan Peyton, LLC will participate equally in the 11.25% working interest and 8.91% net revenue interest "Gates 1-19" well being drilled by Orion Exploration in McIntosh County, Oklahoma. The Company and Dylan Peyton, LLC have 72 acres of the 640 acre section undergoing drilling by Orion, which if drilled and completed successfully, will hold three other possible horizontal CBM drilling sites with the same participation percentage. The acreage forms part of the Company's 5,170 acre H-9 Prospect that is under drilling development by the Company.

Blue Dolphin Energy Co. (BDCO) shares gained 11.75% Thursday to finish up at $4.47 per share, with more than 7.7 million shares traded. Blue Dolphin is new to StockMarketNewsAlert.com. According to M. D'Alonzo at First Equity Group, Inc., 'Recent news flow from the company has been very positive. The company announced reported net income of $909,198 on revenues of $1,675,156 for the quarter ended December 31, 2005, compared to a net loss of $616,827 on revenues of $475,341 for the quarter ended December 31, 2004. Fourth quarter 2005 results improved primarily due to increased revenues from the sale of oil and gas of approximately $1,245,000.'

U.S. environmental regulators are conducting a criminal investigation into the management of pipelines in Alaska's North Slope by British energy group BP PLC (BP), a newspaper reported Thursday. An investigation has been under way for several months by officials at the U.S. Environmental Protection Agency and was expanded to include a March 2 spill of an estimated 134,000 to 267,000 gallons of crude from a BP-operated pipeline at Prudhoe Bay, The Wall Street Journal reported. For more information, please visit http://biz.yahoo.com/ap/060406/bp_alaska_pipelines.html?.v=3 Thursdays Close: Inflation concerns dominated Wall Street Thursday, with stocks mostly lower as crude prices marched toward $68 per barrel and jobless claims fell. Interest in small-cap and technology stocks pushed the NASDAQ composite index narrowly higher, however, sending the index to its third straight five-year high. The Dow Jones industrial average fell 23.05, or 0.21 percent, to 11,216.50. Broader stock indicators were barely mixed. The Standard & Poor's 500 index lost 2.52, or 0.19 percent, to 1,309.04, and the NASDAQ composite index rose 1.42, or 0.06 percent, to 2,361.17. It was the NASDAQ's best close since Feb. 16, 2001.


Not new news.