latest news releases from the newsroom
Royal Petroleum Corp.
Royal Petroleum Corporation to Build Natural Gas Pipeline
CALGARY, Alberta, Feb. 16, 2007 (PRIME NEWSWIRE) -- Royal Petroleum Corporation (Other OTC:RYLP) announced that the Company is expanding its oil and gas activities to include their own gas line distribution service. Royal Petroleum is planning a pipeline to be built to service local producers in the Oklahoma area. With the ownership of the pipeline, Royal Petroleum would charge as a fee, 20-30% of the natural gas that travels through its pipeline. The Company would also use the pipelines to provide delivery of natural gas from their own wells. Management is assessing the possibility of extending these services in other gas producing areas throughout North America.
ACME Communications Completes Sale of WTVK-TV in Fort Myers-Naples, FL
SANTA ANA, Calif., Feb. 16, 2007 (PRIME NEWSWIRE) -- ACME Communications, Inc. (Nasdaq:ACME) announced today that it has completed the previously announced sale of WTVK-TV in Fort Myers-Naples, FL, to Sun Broadcasting, Inc. for $45.0 million in cash. ACME will use the majority of the proceeds from the sale of WTVK to repay all of the Company's $37.2 million of debt currently outstanding under its senior credit facility.
Rosetta Resources Inc.
Rosetta Resources Inc. Revises Content of Fourth Quarter 2006 Earnings Release and Conference Call
HOUSTON, Feb. 16, 2007 (PRIME NEWSWIRE) -- Rosetta Resources Inc. (Nasdaq:ROSE) (the "Company") today announced that its Earnings Conference Call scheduled for February 21, 2007 will focus on results of operations for 2006 and the outlook for 2007. The Company made the decision to take additional time to complete its year-end closing process before releasing 2006 financial results. When the Company completes the year end closing process, it will reschedule and announce its earnings release and conference call date.
Wolverine Tube Inc.
Wolverine Tube Announces Closing of Initial Phase of Recapitalization Plan
HUNTSVILLE, Ala., Feb. 16, 2007 (PRIME NEWSWIRE) -- Wolverine Tube, Inc. (Pink Sheets:WLVT) today announced that it has closed the $50 million investment by Plainfield Special Situations Master Fund Limited and The Alpine Group, Inc. (the "Investors") pursuant to the Preferred Stock Purchase Agreement (the "Agreement") that was previously announced on February 1, 2007. The closing of the investment results in the issuance of 50,000 shares of Series A Convertible Preferred Stock. The Series A Convertible Preferred Stock has an annual dividend rate of 8.0% payable quarterly, and may be converted into shares of Wolverine common stock at the option of the Investors, in whole or in part, at any time, at $1.10 per share, subject to an amendment to Wolverine's certificate of incorporation.