Replies to post #21640 on Nymet Holdings Inc. (fka NYMH)

[Seminole Red]

Perihelion Global Announces Chemical and Feedstock Providers for Opp, Alabama Biofuel Refinery
02/28 8:45 am (MKTW)
Story 1505

WILMINGTON, DE and SANTA ROSA BEACH, FL -- (MARKET WIRE) -- 02/28/08 --

Perihelion Global (PINKSHEETS: PHGI), a development company with interests in naturalresources, alternative energies, and advanced communications, today announced that is has secured chemical and feedstock providers.

Perihelion has reached agreement with Vitusa Products, Inc to provide processing chemicals to its Opp, Alabama BioDiesel refinery. Griffin Industries will supply feedstocks that will supplement supply from regional crop producers to ensure that the Opp Refinery can maintain continuous production.

Perihelion's agreement with Vitusa Products, Inc outlines distribution of Methanol and Sodium Methylate to the Company's Phase One Refinery in Opp, Alabama. Vitusa Products, Inc is the preferred distributor of Methanex Methanol and also distributes Sodium Methylate. Vitusa Products, Inc has a 27 -year history of working with Methanex's advanced pumping terminal at Westwego, Louisiana, which supports their ability to handle and transport hazardous materials in a safe and efficient manner. As part of the agreement, Vitusa Products, Inc recently conducted an on-site inspection of the Company's Phase One Refinery.


Griffin Industries will supply animal fats for the Company's Phase One Refinery as an additional feedstock source. Griffin is a leader in recovering waste material from slaughterhouses, packing plants, butcher shops, supermarkets, hotels, and restaurants to recycle valuable fatty acids, tallows, and proteins. These materials can be processed at the Company's Opp, Alabama facility as an additional source of feedstock for creating BioDiesel. Griffin has an outstanding environmental record, and is certified through Audubon International's Cooperative Sanctuary System.

In light of record high soy, rapeseed, and palm oil prices that are crippling production at numerous single-feedstock facilities, Perihelion management believes its approach of constructing multi-feedstock refineries is proving advantageous in today's economy. Perihelion's facility has been designed to be highly adaptive to pricing and supply changes in world commodities markets.

Perihelion Biofuels representative, William Roncali, stated, "When you havemultiple feedstock sources, you have the advantage of reacting to supply-side or economic obstacles that might otherwise hinder producers that are more reliant on a single feedstock."

Perihelion Global CEO, John H. Beebe, concluded, "These agreements are important to securing consistent production. Consistent production creates consistent jobs for our employees, consistent revenues for our company, andsecurity for our shareholders knowing that we have the ability to adapt to changing market climates. We look forward to working with these industry leaders to strengthen our BioDiesel operations in this region."


About Vitusa Products, Inc

Vitusa Products and its sister companies form a diversified marketing and distribution organization, specializing in addressing the needs of its customers while working toward enhancing their business. Vitusa Products isaffiliated with and acts as a marketing and distribution company for many major domestic and foreign producers. Vitusa Products' ability to buy and ship products throughout the United States and world markets assures its customers of reliable, long-term source of supply at competitive prices. This is achieved with our established warehouses, bulk storage and drumming facilities, strategically located throughout the United States, and with the added advantage of our own trucking company. Vitusa Products' commitment to quality goes back to when the company was first formed in 1981. Vitusa Products is dedicated to providing quality and service second to none. For more information, please visit http://www.vitusaproducts.com/.

About Griffin Industries

Griffin Industries collects and recycles billions of pounds of agriculturalwaste. Meat and poultry by-products, grocery scraps, restaurant grease, andwaste from the bakery industry is reclaimed and recycled into usable, everyday products. These by-products are recycled into fats, oils, proteins, alternative fuels, leather goods, organic fertilizers and methyl esters that are synonymous with quality in the pet food, animal feed, industrial/chemical, petroleum, leather and turf industries. For more information, please visit http://www.griffinind.com/.


About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management oftechnologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.

Website: http://www.perihelionglobal.com

Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.


These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:




-- General economic conditions, either nationally or in our market area,
that are worse than expected;

-- regulatory and legislative actions or decisions that adversely affect
our business plans or operations;

-- price competition;

-- inflation and changes in the securities markets that adversely affect
the fair value of our operations; and

-- changes in our organization, compensation and benefit plans.
We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact: John H. Beebe Chairman, Chief Executive Officer & President
866 -748 -7610 (Toll Free)

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[Seminole Red]

Rowan Reports Record Revenues and Profits
02/28 8:45 am (BW)
Story 1504 Rowan Reports Record Revenues and Profits -2 -




2007 2006

CASH PROVIDED BY (USED IN):
Operations:


Net income $ 483.8 $ 318.2
Adjustments to reconcile net income to net
cash provided by operations:
Depreciation and amortization 118.8 90.0
Deferred income taxes 51.2 94.3
Gain on sale of assets (40.5) (30.5)
Other - net 33.0 47.3
Net changes in current assets and
liabilities (225.4) (221.6)
Net changes in other noncurrent assets and
liabilities 11.7 (5.6)

Net cash provided by operations 432.6 292.1


Investing activities:

Property, plant and equipment additions (462.6) (479.1)
(Increase) decrease in Restricted cash
balance 106.1 (156.1)
Proceeds from disposals of assets 45.8 39.1

Net cash used in investing activities (310.7) (596.1)


Financing activities:

Repayments of borrowings (64.9) (64.9)
Payment of cash dividends (44.4) (60.5)
Net proceeds from equity compensation plans
and other 13.9 11.5

Net cash used in financing activities (95.4) (113.9)


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 26.5 (417.9)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 258.0 675.9

CASH AND CASH EQUIVALENTS, END OF PERIOD $ 284.5 $ 258.0
========== ==========



ROWAN COMPANIES, INC.
SUPPLEMENTAL DRILLING INFORMATION

Unaudited (dollars in millions, except where otherwise indicated )

THREE MONTHS ENDED

Dec. 31, 2007 Sept. 30, 2007 Dec. 31, 2006

% % %
$ Revenues $ Revenues $ Revenues


DRILLING OPERATIONS (a):

Revenues $ 372.4 100 $ 368.8 100 $ 280.6 100
Operating costs (154.6) (42) (145.4) (39) (146.9) (52)
Depreciation
and
amortization
expense (27.1) (7) (25.3) (7) (21.3) (8)
Selling,
general and
administrative


expenses (b) (20.8) (6) (15.8) (4) (14.0) (5)
Gain on sale of
property and
equipment 0.7 0 1.2 0 0.1 0
Charge for
environmental
fine - - - - (9.0) (3)

Income from
operations $ 170.6 46 $ 183.5 50 $ 89.5 32
================= ================= =================

OFFSHORE RIG DAYS:

Operating 1,868 1,907 1,514
Available 1,932 1,932 1,860

Utilization 97% 99% 81%
======== ======== ========

LAND RIG DAYS:

Operating 2,444 2,391 2,036
Available 2,596 2,484 2,148



Utilization 94% 96% 95%
======== ======== ========

AVERAGE DAY RATES (in thousands):
Gulf of Mexico

rigs $ 133.3 $ 132.1 $ 140.1


Middle East

rigs 152.7 151.8 114.3
North Sea rigs 257.9 238.4 195.6
All offshore
rigs 164.3 158.2 144.4
Land rigs 23.0 23.3 22.7

(a) Amounts exclude effects of intercompany transactions. (b) Amounts include corporate SG&A costs that are allocated between operating segments.

ROWAN COMPANIES, INC.
SUPPLEMENTAL MANUFACTURING INFORMATION
Unaudited (dollars in millions)



THREE MONTHS ENDED

Dec. 31, 2007 Sept. 30, 2007 Dec. 31, 2006

% % %
$ Revenues $ Revenues $ Revenues


MANUFACTURING OPERATIONS (a):
Revenues $ 251.2 100 $ 133.4 100 $ 130.3 100
Operating costs (201.2) (80) (107.5) (81) (111.3) (85)
Depreciation
and
amortization
expense (5.4) (2) (4.5) (3) (3.3) (3)
Selling,
general and
administrative
expenses (b) (6.3) (3) (6.7) (5) (6.3) (5)
Gain (loss) on
sale of
property and


equipment - - (0.1) (0) (0.1) (0)

Income from
operations $ 38.3 15 $ 14.6 11 $ 9.3 7
================= ================= =================


REVENUES (a):

Drilling

Products and


Systems $ 182.3 73 $ 83.7 63 $ 80.9 62
Mining,
Forestry and
Steel Products 68.9 27 49.7 37 49.4 38

Total $ 251.2 100 $ 133.4 100 $ 130.3 100
================= ================= =================

(a) Amounts exclude effects of intercompany transactions. (b) Amounts include corporate SG&A costs that are allocated between operating segments.

CONTACT: Rowan Companies, Inc., Houston

Vice-President - Investor Relations
William C. Provine, 713 -960 -7575
www.rowancompanies.com

SOURCE: Rowan Companies, Inc. Copyright Business Wire 2008

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