latest news releases from the newsroom
Australian-Canadian Oil Royalties Ltd.
Australian-Canadian Oil Royalties Ltd. Symbol: AUCAF Announces BHP Billiton Drilling on VIC/P45
CISCO, Texas, Nov. 25, 2003 (PRIMEZONE) -- Australian-Canadian Oil Royalties Ltd. (Nasdaq:AUCAF) announced drilling has begun on VIC/P45 using BHP rig Ocean Epoch. This rig can drill to 20,000 feet; however, the main objective is to initially drill to 7,500 feet deep into the Latrobe Formation, which should be reached in approximately 10 days. This offshore location, AUCAF's first offshore well in Australia, was located by 3-D seismic as an eastern extension of the Kingfish Field in the Bass Straits, located 2.4 miles along an anticlinal axis. The Kingfish Field has produced 1.1 billion barrels of oil to date. IMI, an independent engineering firm, estimates reserves for the 214,000 acre VIC/P45 at 350,000,000 barrels of oil and 4 trillion cubic feet of gas. AUCAF has a 0.05% of 1% Overriding Royalty Interest on VIC/P45. The enormous fields on both sides, Kingfish at 76,000,000 barrels per well and the Mackerel at 3,000,000 barrels per well are both producing from the top of the Latrobe. Gross production from the Kingfish and Mackerel respectively are 1.1 billion barrels and 450 million barrels.
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Brodsky & Smith, LLC
Law Offices of Brodsky & Smith, LLC Announces Class Action Lawsuit Against Aerosonic Corporation -- AIM
BALA CYNWYD, Pa., Nov. 25, 2003 (PRIMEZONE) -- Law offices of Brodsky & Smith, LLC today announces that a securities class action lawsuit has been filed on behalf of shareholders who purchased the common stock and other securities of Aerosonic Corporation ("Aerosonic or the "Company") (AMEX:AIM), between May 3, 1999 and March 17, 2003, inclusive (the "Class Period"). The class action lawsuit was filed in the United States District Court for the Middle District of Florida against Aerosonic and certain of its officers and/or directors.
Moore-Handley, Inc. Reports Results of Operations for the Quarter Ended September 30, 2003
BIRMINGHAM, Ala., Nov. 25, 2003 (PRIMEZONE) -- Moore-Handley, Inc. (Pink Sheets:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $28,000 or $0.02 per diluted share for the quarter ended September 30, 2003 vs. $53,000 or $0.03 per diluted share for the same period in 2002. The quarter ended September 30, 2003 included a charge to income, net of taxes, of $29,000 or $0.02 per diluted share because of a change in the allowance for uncollectible vendor receivables. For the nine months ended September 30, 2003 this charge, net of taxes, was $256,000 or $0.14 per diluted share.
Atlas Minerals Inc.
Atlas Announces Third Quarter Financial Results
DENVER, Nov. 25, 2003 (PRIMEZONE) -- Atlas Minerals Inc. (OTCBB:ATMR) (the "Company") announced today its financial results for the nine months ended September 30, 2003. As of September 30, 2003 the Company had a working capital deficit of $84,000 and a cash balance of $12,000. The Company reports total assets of $700,000 and total liabilities of $450,000.