latest news releases from the newsroom
Stafford Acquires Nucon, Inc.
VANCOUVER, British Columbia, May 4, 2006 (PRIMEZONE) -- Stafford Energy, Inc., ("Stafford") (Pink Sheets:SFDE), is pleased to announce that it has entered into a Share Exchange Agreement with Nucon, Inc. ("Nucon"), a Nevada company. Nucon is focused on high-end environmental markets in the Former Soviet Union and Asia, with executive and operations offices located in Moscow, Russia. Under the terms of the share exchange agreement, Stafford will acquire 22,500,000 common shares of Nucon representing 100% of Nucon's outstanding common stock in exchange for 22,500,000 shares of Stafford's common stock. Prior to closing of the share exchange, Stafford will effect a 275 to 1 share consolidation that has been approved by consent resolution of the Stafford directors and shareholders holding 55% of Stafford's voting common shares. Following the consolidation, the issuance of 22,500,000 shares to acquire Nucon and the issuance of 3,000,000 post consolidated debt settlement shares, Stafford will have a total of 25,858,647 common shares issued and outstanding.
Results for the First Quarter 2006: Strong Growth and Higher Profits
FORNEBU, Norway, May 4, 2006 (PRIMEZONE) -- In the first quarter of 2006, Telenor's revenues increased by 43 per cent compared to the first quarter of 2005, reaching NOK 21.9 billion. The underlying revenue growth was 15 per cent. Profit before taxes was NOK 5.9 billion. During the quarter, the total number of mobile subscriptions increased by 7 million, reaching 90 million."I am pleased to present a very strong quarter, with significant growth in revenues and higher profits. Telenor's previous investments in a growing subscriber base and in increased capacity and coverage are now showing high return. At the same time, all our mobile operations successfully defended or even improved their market positions," said President and CEO of Telenor, Jon Fredrik Baksaas.
REPORT FOR THE FIRST QUARTER OF 2006
* Net turnover amounted to SEK 3,200 M (2,696).
* Operating profit excluding items affecting profitability amounted to SEK 33 M
* Net profit amounted to SEK 10 M (8) and earnings per share to SEK 0.45 (0.35).
* Cash flow amounted to SEK 147 M (-225).
In a comment on the quarterly results, Bilia’s Managing Director Jan Pettersson
“Earnings during the first quarter were negatively affected by the poorer
margin in the Car Business and the costs for the start-up of Net
Stolt-Nielsen S.A. Releases Audited 2005 Financials, and Reschedules Annual General Meeting and Dividend Payment
LONDON, May 3, 2006 (PRIMEZONE) -- Stolt-Nielsen S.A. (Nasdaq:SNSA) (Oslo:SNI) today filed with the U.S. Securities and Exchange Commission its audited 2005 financial statements and Annual General Meeting materials, which are also available on the Investor Relations page of www.stolt-nielsen.com. The Company announced that Annual General Meeting of shareholders has been rescheduled to Friday, May 26, 2006 at 2:00 p.m. local time at the offices of Services Generaux de Gestion S.A., 23, avenue Monterey, L-2086 Luxembourg. All shareholders of record as of March 28, 2006, as previously announced, will be entitled to vote at the meeting.
Horizon Offshore Inc.
Horizon Offshore Announces Internal Investigation
HOUSTON, May 3, 2006 (PRIMEZONE) -- Horizon Offshore, Inc. (OTCBB:HRZO) announced today that as a result of an internal review conducted by the Company, the Company's management has become aware of the possibility that one of its subsidiaries authorized an improper payment to a customs official in a Latin American country in the approximate amount of $35,000 in connection with the importation of construction equipment. As a result, the Audit Committee of the Board of Directors of the Company has engaged outside counsel to conduct an investigation to determine whether any improper payment was actually made, as well as whether there are any deficiencies in the Company's internal controls and procedures with respect to the oversight and record keeping. The Company has notified the Securities and Exchange Commission of this matter and of its internal investigation. The Company is fully cooperating with the Securities and Exchange Commission.