latest news releases from the newsroom
Hannover Re: Result Adversely Impacted by Exceptionally Heavy Losses
HANNOVER, Germany, Nov. 10, 2005 (PRIMEZONE) -- Following the very heavy burden of losses already incurred in the first quarter, catastrophe losses took an extraordinarily severe toll on Hannover Re's result in the third quarter. At this point in time there is still considerable uncertainty surrounding the quantification of the strains from hurricanes "Katrina" and "Rita", and Hannover Re has therefore established global reserves in addition to the individual loss reserves.
Eternal Energy Corp.
Eternal Energy Corp. Completes Acquisition of Participation Rights to a Joint Venture In Oil and Gas Exploration
LITTLETON, Colo., Nov. 9, 2005 (PRIMEZONE) -- Eternal Energy Corp. (OTCBB:EERG) (formerly known as Golden Hope Resources Corp. (GHPR)) announced that it had completed an acquisition of rights to acquire a fifty percent interest in a joint venture with Eden Energy Corp., a Nevada corporation, for acquiring oil and gas leases and drilling wells to explore oil and natural gas reserves on the Big Sand Spring Valley Prospect located in eastern Nevada. The oil and gas leases cover approximately 82,184 gross acres of property in Nye County, Nevada. The acquisition was completed through the merger of the company's wholly owned subsidiary into the company, with the company as the surviving corporation, effective on November 7, 2005. Pursuant to the terms of a purchase and sale agreement with Merganser Limited, the company will issues shares of its common stock to Merganser, based on net proved oil reserves, in exchange for all of Merganser's rights and interests to participate in the joint venture. Under the terms of the participation agreement between Eden and Merganser, after the initial consideration to Eden is fully paid, all subsequent costs are to be borne fifty percent by Eden and fifty percent by Merganser and ownership of the oil leases and any additional acreage will be owned fifty percent by Merganser and fifty percent by Eden. As a result of the transaction, the company acquired all of Merganser's rights under the participation agreement with Eden.
MEDirect Latino, Inc.
MEDirect Latino Inc. Achieves Record October Revenue Results Despite Interruptions Caused By Hurricane Wilma
PLANTATION, Fla., Nov. 9, 2005 (PRIMEZONE) -- MEDirect Latino Inc. (Pink Sheets:MLTO) (www.medirectlatino.org), the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, today announced record results for October, 2005 in gross billings, new patient shipments and call volume. MEDirect Latino reports gross billings of $418,406 during the month, a 37% increase over September billings of $304,621. The Company increased gross product profit margins by 3% to 77% during the period, compared to 74% in September. Total new patient shipments for October numbered 1,561, an increase of 19% over September, and end the month with an additional 2,612 patients approved and pending shipment for regulatory processing. MEDirect Latino expects to monetize its approved and pending patient orders in November, which is typical to the industry model. The Company's closing ratio during September was 82% of the total qualified response rate from its national and regional media campaign.
Old National Bancorp
Old National to Present at the 2005 Merrill Lynch Banking and Financial Services Conference
EVANSVILLE, Ind., Nov. 9, 2005 (PRIMEZONE) -- Old National Bancorp (NYSE:ONB) will be participating in the 2005 Merrill Lynch Banking and Financial Services Conference to be held November 15, 16 and 17, 2005, in New York City. Old National will broadcast its presentation from the conference on November 15 at 9:40 a.m. Eastern. The live audio webcast of the event, along with corresponding slides, will be available on the Shareholder Relations page at www.oldnational.com. Listeners should go to the website at least fifteen minutes before the event to download and install any necessary audio software. For those unable to attend the live broadcast, a replay will be available for 14 days. There is no charge to access this event.
Telestone Technology Corp.
Telestone Technologies Completes Internal Certification Process for 3G Network Products
NEW YORK, Nov. 9, 2005 (PRIMEZONE) -- Telestone Technologies Corporation (AMEX:TST) is pleased to announce that it has successfully completed its internal certification of its 3G wireless network products. The products tested included repeaters, amplifiers and passive radio frequency accessories deployed in WCDMA, CDMA2000 and TD-SCDMA wireless networks. This final phase of certification, completed on November 2nd, could only have been achieved after successfully testing these products in 3G network trials being deployed by wireless carriers in different regions of the People's Republic of China. In addition, Telestone Technologies also received confirmation from major network integrators that the company's product met or exceeded international standards required for deployment in 3G wireless networks.