latest news releases from the newsroom
China Digital Animation Development, Inc.
Maui General Store Signs Letter of Intent to Purchase Over-Riding Royalty Interests from Drilling Locations in Palo Duro Basin
HANA, Hawaii, June 28, 2005 (PRIMEZONE) -- Maui General Store, Inc. (OTCBB:MAUG) announces that it has signed a letter of intent with Robson Holdings, Inc. of Dallas, Texas. The letter states that Maui General Store and Robson Holdings will negotiate the terms of an agreement under which Maui General Store would acquire certain over-riding royalty interests on approximately 275,000 acres of land in the Palo Duro Basin of Northwest Texas. Robson Holdings, with vast experience in drilling and operating natural gas wells in the area, estimates that up to 2,000 wells can be operational, with drilling set to begin within thirty days. Completion of the agreement will depend on satisfactory negotiation of a purchase agreement, a thorough review of all pertinent land leases, and on Maui General Store's success in obtaining the financing required to purchase the royalty interests.
Quest Announces Acquisition of Wallstin Petroleum and Appointment of Executives to Senior Management
ARLINGTON, Texas, June 28, 2005 (PRIMEZONE) -- Quest Oil Corporation ("Quest" or the "Company")(OTCBB:QOIL) announced today that it has acquired Wallstin Petroleum LLC ("Wallstin"), a Texas Limited Liability Company, in consideration for the issuance of 1,500,000 new common shares of Quest. Pursuant to the transaction, Quest is pleased to announce two appointments to Quest senior management from the existing senior management of Wallstin. Mr. Bill Stinson will serve as Chief Operating Officer (COO) of Quest and Mr. Joe Wallen, as Vice President Operations and Development.
Emerson Oil & Gas, Inc.
Emerson Oil and Gas, Inc. -- Completes Drilling and Hole Casing to 992 Metres on Acadia Project
VANCOUVER, British Columbia, June 28, 2005 (PRIMEZONE) -- Emerson Oil and Gas, Inc., (Pink Sheets:EOGI), a Nevada corporation, have been informed by the operator that the well has been completed and drilled and cased to a total depth of 992 metres. This is the main multi-zone hole on the Acadia project in Alberta. The Acadia project is a natural gas well with oil potential and an estimated I.P.R. (initial production rates) of 2,000 mcf/day each (two million cubic feet per day). This translates into a potential asset valuation of $11,000,000 per mcf/day production.
Trelleborg Establishes Commercial-Paper Program
STOCKHOLM, Sweden, June 28, 2005 (PRIMEZONE) - Through its fully owned subsidiary Trelleborg Treasury AB (publ), the Trelleborg Group has established a commercial-paper program. Through this program, Trelleborg will be able to issue commercial papers in a maximum amount of SEK 2 billion, or the equivalent amount in EUR. The maximum maturity period for the papers is 12 months.
EQT Sells IHI to BUPA
STOCKHOLM, Sweden, June 28, 2005 (PRIMEZONE) -- EQT II B.V. ("EQT") has signed an agreement with BUPA to sell International Health Insurance danmark A/S (IHI), the world's leading provider of international private medical insurance.
CAPE Systems Group, Inc
CAPE Systems Appoints New Greek Representative
SOUTH PLAINFIELD, N.J., June 28, 2005 (PRIMEZONE) -- CAPE Systems Group, Inc. (OTCBB:CYSG), a provider of software technology for packaging design, RFID asset tracking, pallet optimization, inventory and warehouse management, and order fulfillment, announced today that it has signed on with a new international representative, Datasoft Business Solutions, to offer a range of logistics and packaging solutions within Greece.