latest news releases from the newsroom
SeaDrill Limited: New Contract Secured for Tender Rig T-6
HAMILTON, Bermuda, May 24, 2006 (PRIMEZONE) -- The self-erecting tender rig T-6, in which SeaDrill holds a 49 percent ownership interest, has been awarded and has, subject to some conditions, accepted a letter of intent for a three-year contract with the Carigali-PTTEP Operating Company Berhad. The contract is expected to commence in December 2007/January 2008 in direct continuation of the current contract commitments. Estimated contract value is approximately US $95 million.
Los Angeles Downtown Center Business Improvement District
Downtown Los Angeles Real Estate Booms
LOS ANGELES, May 23, 2006 (PRIMEZONE) -- Eli Broad, philanthropist and Founder-Chairman of KB Home and SunAmerica Inc., along with leaders of major U.S. real estate and brokerage companies and prominent Los Angeles business community members described the astonishing growth in housing and strong office space market in Downtown Los Angeles during a press conference today at Metro 417 Lofts. The press conference was held in advance of the panel traveling to New York June 1 to meet with the New York community of developers and investors.
Small Businesses Find Market in Online Swapping
CUPERTINO, Calif., May 23, 2006 (PRIMEZONE) -- SwapThing.com announces its new Partner Program enabling small businesses with a new venue of distribution and quick transactions for inventory. SwapThing makes it easy for the small business owner to get a risk-free presence on the Internet. After announcing its worldwide grand opening last month and adding 3,000 new online swappers, SwapThing.com is seeing growth from a new market -- online retailers.
Blue Frog Receives ACORD LOMA Honors for 8th Consecutive Year
LAS VEGAS, May 23, 2006 (PRIMEZONE) -- Blue Frog Solutions, a leading provider of ACORD standards-based middleware solutions and straight-through processing for the life insurance and annuities industry, yesterday received three Accomplishment Awards from the Association for Cooperative Operations Research and Development (ACORD) at a luncheon held at the ACORD LOMA Insurance Systems Forum taking place here May 22-24.
The Pomerantz Firm Charges XM Satellite Radio Holdings Inc. With Securities Fraud -- XMSR
NEW YORK, May 23, 2006 (PRIMEZONE) -- Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) ("Pomerantz") has filed a class action lawsuit in the United States District Court for the District of Columbia, against XM Satellite Radio Holdings Inc. ("XM Satellite" or the "Company") (Nasdaq:XMSR) and Hugh Panero, President and Chief Executive Officer, on behalf of purchasers of the common stock of the Company during the period from July 28, 2005 -- February 15, 2006, inclusive (the "Class Period"). The complaint alleges violations of Section 10(b) and Section 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder.
Transmeridian Exploration, Inc.
Transmeridian Determines Issue Prices for Private Offering of Debt and Equity
HOUSTON, May 23, 2006 (PRIMEZONE) -- Transmeridian Exploration Incorporated (AMEX:TMY) announced today that it has determined the issue prices for its previously disclosed private offering of (i) $40 million aggregate principal amount of additional Senior Secured Notes due 2010 of Transmeridian Exploration Inc., the Company's wholly owned British Virgin Islands subsidiary ("TMEI"), and (ii) approximately $10 million of the Company's common stock. The notes will be issued and sold for an issue price of 97% of the principal amount thereof plus accrued interest from March 15, 2006, and the Company will issue 1,818,182 shares of its common stock at an issue price of $5.50 per share. The offering is expected to close on or about May 26, 2006.
Transmeridian Exploration, Inc.
Transmeridian Completes Consent Solicitation
HOUSTON, May 23, 2006 (PRIMEZONE) -- Transmeridian Exploration Incorporated (AMEX:TMY) announced today the completion by Transmeridian Exploration Inc., the Company's wholly-owned British Virgin Islands subsidiary ("TMEI"), of TMEI's previously-disclosed consent solicitation with respect to TMEI's $250 million of outstanding Senior Secured Notes due 2010 (the "Notes"). Pursuant to the consent solicitation, TMEI solicited consents to certain proposed amendments to the indenture pursuant to which the Notes were issued, including amendments to permit (i) the issuance under the indenture of additional Senior Secured Notes due 2010 in an aggregate principal amount of up to $40 million and (ii) the payment of accrued dividends on the Company's outstanding Series A cumulative convertible preferred stock in an amount not to exceed $1 million. Adoption of the proposed amendments requires consents from the holders of at least a majority in aggregate principal amount of the Notes.