latest news releases from the newsroom
San Diego Gas & Electric
SDG&E Selects Projects to Meet Peak-Power Demand in 2008
SAN DIEGO, May 14, 2007 (PRIME NEWSWIRE) -- San Diego Gas & Electric (SDG&E) today announced it has selected bids and signed power-purchase agreements with two companies to supply nearly 130 megawatts (MW) of quick-start generation to be brought online by 2008. The winning bidders, J-POWER USA Development Co. Ltd ("J-Power") and Wellhead Power Margarita, LLC ("Wellhead Power"), will build "peaker" plants -- small, efficient power plants used only during high-demand periods of electricity usage -- to help SDG&E meet the region's reliability and energy needs.
Sonesta International Hotels Corporation
Sonesta Announces 1st Quarter Results
BOSTON, May 14, 2007 (PRIME NEWSWIRE) -- Sonesta International Hotels Corporation (Nasdaq:SNSTA) today reported a net loss of $821,000, or $(0.22) per share, in the quarter ended March 31, 2007, compared to net income of $10,000, or $0.003 per share, in the quarter ended March 31, 2006. Revenues, excluding other revenues from managed and affiliated properties, were $15,383,000 in the 2007 quarter, compared to $23,938,000 in the 2006 quarter. The Company had an operating loss of $737,000 in the first quarter of 2007, compared to operating income of $591,000 during the same period in 2006.
Cubic Energy, Inc.
Cubic Energy, Inc. Provides S.E. Johnson 19 No. 1 Production Test Results
DALLAS, May 14, 2007 (PRIME NEWSWIRE) -- Cubic Energy, Inc. (OTCBB:QBIK) ("Cubic" or the "Company") announces today that pursuant to the field test report of the Louisiana Conservation Commission, the S.E. Johnson 19 No. 1 located in DeSoto Parish, Louisiana had an aggregate initial production of approximately 2,550 Mcf per day from the Hosston and Cotton Valley zones, along with an aggregate of 5 BBLS per day of condensate. The well is still cleaning up from its completion stimulation.