latest news releases from the newsroom
Transmeridian Exploration, Inc.
Transmeridian's South Alibek No. 2 confirms northern extension of Field
HOUSTON, Jan. 30, 2004 (PRIMEZONE) -- Transmeridian Exploration, Inc. (OTCBB:TMXN) announced today that preliminary logging results from the newest well, South Alibek No. 2 (SA-2), indicate the presence of significant oil pay. Oil-bearing reservoir zones have been identified in both the KTII and KTI carbonate formations. This crestal well confirms the field structure and indicates the presence of the reservoir zones significantly north of previous wells. Initial estimates are 440 feet of apparent net oil pay in the KTII reservoirs and 280 feet in the KTI reservoirs. These preliminary results are comparable to the oil pay thicknesses in the other wells in the field, Alibekmola 29, South Alibek No. 1 and No. 4. Production casing has been set to a depth of 13,800 feet in preparation for the well testing program.
MoneyTV, Week of 1/30
LOS ANGELES, Jan. 30, 2004 (PRIMEZONE) -- MoneyTV is the nationally syndicated television program all about money and what makes it happen, (http://www.moneytv.net), featuring informative interviews with CEOs, insights into their operations and outlooks for their futures.
Ruby Mining Company
CORRECTION: Ruby's Acquisition of Shipwreck Search and Recovery Vessel Proceeds
ATLANTA, Jan. 30, 2004 (PRIMEZONE) -- Ruby Mining Company (OTCBB:RUBM) ("Ruby"), which conducts its operations through its wholly-owned subsidiary, Admiralty Corporation ("Admiralty"), today announced that the shareholders of Caribbean Treasure Hunters, Inc. ("CTHI") have voted to approve the sale to Ruby of the New World Legacy, a 110-foot, 169-ton ship (the "Ship") built specifically for historic shipwreck search and recovery operations in the Caribbean. The terms of the acquisition include 1,000,000 shares of Ruby's Common Stock and the assumption by Ruby of the two perfected liens encumbering the Ship. The shares will be restricted under Rule 144 and must be held for one year from the date of issuance before they be sold.