latest news releases from the newsroom
Sonoran Energy, Inc.
Sonoran Energy Adds New Oil Production and Completes Merzonian Lease Acquisition
LOS ANGELES, April 16, 2003 (PRIMEZONE) -- Sonoran Energy, Inc. (OTCBB:SNRN) announced today that it has completed its 50 percent acquisition of the National Development Company -- Merzonian Lease with operating partner Longbow LLC acquiring the remaining 50%. The acquisition of the lease (Section 22, T22S R27E MDB&M), located in the Deer Creek Oil Field 42 miles north of Bakersfield, California, is a straight production acquisition. The lease consists of six producing wells and one injection well producing approximately 25 barrels of oil per day. This new lease is an offset property to the 93-acre Deer Creek Field Keystone leases acquired in December 2002.
Kingdom Ventures Inc.
Kingdom Launches Its Church Financing Services Division
MINDEN, Nev., April 16, 2003 (PRIMEZONE) -- Kingdom Ventures, Inc. (OTCBB:KDMV), a rapidly growing church development company, announced today it is has launched its Church Financing Services division. These services are produced by Security Church Finance, Inc. (SCF), a NASD registered broker/dealer. SCF has assisted over 2,900 churches in the issuance and sale of church bonds to provide funds for the purchase of property, construction of facilities and the refinancing of indebtedness. Church financing is a highly specialized niche that leading investment banks such as Bear Stearns (NYSE:BSC) and Merrill Lynch & Co. (NYSE:MER) have almost completely overlooked.
eLEC Communications Corp.
eLEC Announces First Quarter Results
NEW ROCHELLE, N.Y., April 16, 2003 (PRIMEZONE) -- eLEC Communications Corp. (OTCBB:ELEC) today reported earnings of $705,799, or $.05 a share, for the first quarter of fiscal 2003 as compared to a net loss of ($1,164,670), or ($.07) a share, for the first quarter of fiscal 2002.
Harsco Unit Adds to U.K. Order Book for Railway Track Maintenance Machines
HARRISBURG, Pa., April 16, 2003 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its Harsco Track Technologies (HTT) division continues to expand its growing railway track maintenance equipment presence in the U.K. with a new order from U.K. railway contractor GART Renewals, Ltd. for a multi-unit New Track Construction train. The order marks Harsco's first major direct sale to a U.K. railway contractor following a number of recent orders from the U.K.'s Network Rail system. Delivery is to be made in the latter part of this year. Terms of the order were not disclosed.
GE Ion Track
TSA Approves Use of GE Ion Track's Walk-through Explosive Detection Technology
WILMINGTON, Mass. April 16, 2003 (PRIMEZONE) -- GE Ion Track, a provider of explosive trace detection equipment used to ensure public safety at airports, today announced that the Transportation Security Administration (TSA) has confirmed that the Entryscan3 completed and passed laboratory acceptance testing. The newly approved Entryscan3 is a non-intrusive walk-through explosives detection portal designed to detect explosives concealed on the body of terrorists attempting to circumvent checkpoint security. The Entryscan3 represents a significant breakthrough in explosives detection and will bolster existing airport and other high-threat facilities' checkpoint security measures. Entryscan3 is the first and only walk-through explosive trace detection system to have received the agency's laboratory acceptance.