latest news releases from the newsroom
Transmeridian Exploration, Inc.
Transmeridian Exploration Acquires Interest in Russian Oilfield
HOUSTON, Sept. 11, 2006 (PRIMEZONE) -- Transmeridian Exploration Incorporated (AMEX:TMY) today announced that it has acquired a 50% interest in the Gasha field from a private Russian investor group. The field is located onshore in the Republic of Dagestan, an autonomous region within Russia along the northwestern Caspian Sea shoreline. The Company paid $2.5 million to acquire 50% of the share capital of a privately held Russian company (DNK LLC) that owns the license to the field and entered into a joint operations agreement with the other shareholder for all future petroleum operations within Dagestan. In addition, the Company advanced the venture $1.0 million to retire existing indebtedness and agreed to fund one hundred percent of the costs up to $4.0 million of drilling an extended-reach well and conducting a 3-D seismic survey. These advances will be recovered on a preferential basis from the cash surpluses generated by operations. Remaining cash needs will be funded on a joint basis.
Netherlands Board of Tourism & Conventions
Movenpick Hotel Opens in the Heart of Amsterdam
AMSTERDAM, The Netherlands, Sept. 11, 2006 (PRIMEZONE) -- The new 4-star plus Movenpick Hotel Amsterdam City Centre opened officially on Friday September 8, keeping with the expansion objectives of Movenpick Hotels & Resorts to realize projects in major European cities. Business executives first and foremost, but also leisure travelers, will now be able to enjoy genuine Swiss hospitality in the heart of Amsterdam.
Royal Petroleum Corp.
Royal Petroleum Inc. in Process of Developing New Technology for NC-02 Oil Extraction
CALGARY, Alberta, Sept. 11, 2006 (PRIMEZONE) -- Royal Petroleum Corp. (Other OTC:RYLP) announced that the Company has contracted a Research and Development firm to create new technology for the NC-02 oil extraction process. The developer of this unique technology was introduced and recommended by Royal Petroleum's Technology Consultant. The Company intends to commence field testing with this innovative process within 60 days and expects to have a patent filing in 6 months.
Tralliance and UNWTO Unveil Africa Virtual Heritage Management Project
GENEVA, Sept. 11, 2006 (PRIMEZONE) -- Tralliance Corporation, the .travel Registry, working with the United Nations World Tourism Organization (UNWTO) today announced the establishment of the Africa Virtual Heritage Management Project (VHMP) before an audience of travel industry leadership at the Tourism Africa 2006 Conference. The inaugural conference is taking place under the patronage of the World Travel and Tourism Council (WTTC) and its president Jean-Claude Baumgarten, which also was the first travel trade association to support the global .travel initiative.
Izard Nobel LLP
Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Aspen Technology, Inc. -- AZPN
HARTFORD, Conn., Sept. 11, 2006 (PRIMEZONE) -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Massachusetts on behalf of all persons who purchased the publicly traded securities of Aspen Technology, Inc. (the "Company") (Nasdaq:AZPN) between February 6, 2006 and September 6, 2006, inclusive (the "Class Period").