latest news releases from the newsroom
Habanero Resources Inc.
Drilling Now Underway on Oil Sands Prospect
VANCOUVER, British Columbia, Aug. 16, 2006 (PRIMEZONE) -- Habanero Resources Inc. (Pink Sheets:HBNRF) (TSX-V:HAO) (Frankfurt:HRJ) ("Habanero") is pleased to announce that the operator of the Sawn Lake Prospect in the Peace River Oil Sands region of Alberta has announced that the first well of a planned three-well program has now commenced. This first well, located at 11-32-91-12w5, is scheduled to be drilled vertically, plugged back, then kicked off horizontally and is targeting cold-flow primary production. As reported in Stockwatch on Aug. 1, 2006, Pan Orient has transferred its 10 percent working interest in these 69.5 northern sections of Sawn Lake oil sands leases (where this 11-32 well is currently being drilled) to Andora Energy Corp., a privately held company, in exchange for shares of Andora. Pan Orient currently owns approximately 36 per cent of the outstanding Andora shares and upon completion of a remaining transaction, currently scheduled for mid-September, Pan Orient will own a minimum 51-per-cent interest in Andora. Binding lock-up agreements exist between Pan Orient and certain shareholders of Andora, ensuring Pan Orient a minimum 51-per-cent ownership in Andora. Habanero owns 700,000 shares of Andora.
Northrop Grumman Corp.
Northrop Grumman's LITENING AT Targeting Pods to Provide Greater Flexibility for U.S. Marines' and Royal Australian Air Force F/A-18s
ROLLING MEADOWS, Ill., Aug. 16, 2006 (PRIMEZONE) -- Northrop Grumman Corporation's (NYSE:NOC) LITENING AT targeting system continues to proceed toward an additional flight clearance anticipated this fall in support of U.S. Marine Corps F/A-18 Hornets through the efforts of a government-industry team. In addition to operations on the aircraft's centerline (station 5), the new clearance will provide the Marines with the added flexibility of also carrying LITENING on the Hornet's port fuselage (station 4). The Royal Australian Air Force (RAAF) will also be flying the LITENING AT pod aboard their F/A-18s on station 4.
Crown Crafts, Inc.
Crown Crafts, Inc. Reports Results for First Quarter of Fiscal Year 2007
GONZALES, La., Aug. 16, 2006 (PRIMEZONE) -- Crown Crafts, Inc. (the "Company") (OTCBB:CRWS) today reported net sales for the first quarter of fiscal year 2007, which ended July 2, 2006, of $16.2 million as compared to net sales for the first quarter of fiscal year 2006 of $13.7 million. Pretax net income for the quarter was $1.5 million compared to a pretax net loss of $261,000 for the first quarter of fiscal year 2006. Net income for the first quarter of fiscal year 2007 was $911,000, or $0.04 per diluted share, compared to a net loss of $269,000, or $0.03 per diluted share, for the first quarter of fiscal year 2006.
Flight Explorer Professional Edition 6.2 Offers New Weather, Delay and Diversion Alerts
MCLEAN, Va., Aug. 16, 2006 (PRIMEZONE) -- Flight Explorer (FE), a global flight tracking, information technology and communications solutions provider to the aviation community, today announced the release of Flight Explorer Professional(tm) Edition 6.2. With Version 6.2, Flight Explorer has added an alerting capability that allows customers to receive proactive alerts based on Meteorological Aerodrome Reports (METARs), Runway Visual Range (RVR) data, FAA airport delays and real-time diversions.
Business Leaders More Confident Than a Year Ago, PricewaterhouseCoopers' Management Barometer Finds
NEW YORK, Aug. 16, 2006 (PRIMEZONE) -- Although increasingly concerned about energy costs, availability of qualified workers, pressure for increased wages, and interest rates, executives of large U.S. multinationals have a more confident outlook than a year ago. Their revenue growth targets for the next 12 months, investment plans, plans to hire, and gross margins are on the rise, PricewaterhouseCoopers finds.
Coastal Technologies, Inc.
Coastal Technologies, Inc. Announces Letter of Intent With B Telecom, Inc.
OMAHA, Neb., Aug. 16, 2006 (PRIMEZONE) -- Coastal Technologies, Inc. (Pink Sheets:CTTJ) (the "Company"), a publicly-traded company, today announced it entered into a Letter of Intent to merge with B Telecom Inc. (BTi), a Cleveland, OH based business continuity solutions provider. B Telecom provides business continuity services and Coastal provides outsourced IT services to the healthcare industry. The joining of the Company's healthcare client base with BTi's expertise at designing, building and operating N+1 category 5 facilities, will enable the merged companies to offer disaster recovery services to healthcare clients in a wider geographic area and at a more competitive price. BTi will contribute extensive resources including software, physical plant, long haul fiber connectivity and extensive experience in producing flexible and creative solutions. Coastal management anticipates the merger to be completed by September 1, 2006.
Armor Electric Inc.
Armor Electric Inc. Announces Mexico City Pedi-Cab Contracts Delivered for Approval
SOLANA BEACH, Calif., Aug. 16, 2006 (PRIMEZONE) -- Armor Electric Inc. (OTCBB:ARME) announced today that the blanket purchase agreement and corresponding contract for four hundred electric propulsion units and sixty vehicle components has been delivered to the Mexico City management group for review and approval. Upon contractual approval, production ramping will begin and follow-on orders will be placed.