latest news releases from the newsroom
Seadrill Secures New Wireline Contract
HAMILTON, Bermuda, Aug. 17, 2006 (PRIMEZONE) -- Norsk Hydro has awarded Seadrill a letter of intent for the provision of wireline services on the Norwegian Continental Shelf. The assignment has a duration of three years with options for three additional two-year periods. The estimated contract value for the firm period is approximately NOK 600 million, which includes work performed by subcontractors. The scope of work covers mechanical and electrical wireline services as well as well tractor services.
Telkomsel Awards Ericsson 3G/HSPA Contract in Indonesia
STOCKHOLM, Sweden, Aug. 17, 2006 (PRIMEZONE) -- Ericsson (Nasdaq:ERICY) has been selected by PT Telekomunikasi Selular Indonesia (Telkomsel) to provide its 3G/WCDMA network in Indonesia. Ericsson will, on a full turnkey basis, seamlessly upgrade Telkomsel's network with increased capacity, providing higher data rates and enhancing end-user experience through High-Speed Packet Access (HSPA).
Habanero Resources Inc.
Drilling Now Underway on Oil Sands Prospect
VANCOUVER, British Columbia, Aug. 17, 2006 (PRIMEZONE) -- Habanero Resources Inc. (Frankfurt:HRJ) (Pink Sheets:HBNRF) (TSX-V:HAO) ("Habanero") is pleased to announce that the operator of the Sawn Lake Prospect in the Peace River Oil Sands region of Alberta has announced that the first well of a planned three-well program has now commenced. This first well, located at 11-32-91-12w5, is scheduled to be drilled vertically, plugged back, then kicked off horizontally and is targeting cold-flow primary production. As reported in Stockwatch on Aug. 1, 2006, Pan Orient has transferred its 10 percent working interest in these 69.5 northern sections of Sawn Lake oil sands leases (where this 11-32 well is currently being drilled) to Andora Energy Corp., a privately held company, in exchange for shares of Andora. Pan Orient currently owns approximately 36 per cent of the outstanding Andora shares and upon completion of a remaining transaction, currently scheduled for mid-September, Pan Orient will own a minimum 51-per-cent interest in Andora. Binding lock-up agreements exist between Pan Orient and certain shareholders of Andora, ensuring Pan Orient a minimum 51-per-cent ownership in Andora. Habanero owns 700,000 shares of Andora.
Crucell and DSM Biologics Announce Second PER.C6 Licensing Agreement With MorphoSys
LEIDEN, Netherlands and SITTARD, Netherlands, Aug. 17, 2006 (PRIMEZONE) -- Dutch biotechnology company Crucell N.V. (Nasdaq:CRXL) (Swiss Exchange:CRX) and technology partner DSM Biologics today announced the signing of a second PER.C6(R) license agreement with MorphoSys AG (Frankfurt:MOR) (Prime Standard Segment, TecDAX). This license agreement allows MorphoSys to use the PER.C6(R) cell line in the production of clinical grade material for the development of its proprietary therapeutic antibody program MOR103. MOR103 is a fully human HuCAL(R) antibody, developed in the area of inflammatory diseases, such as rheumatoid arthritis.
Pirate Capital LLC
Pirate Capital to Soft-Close Funds
NORWALK, Conn., Aug. 16, 2006 (PRIMEZONE) -- Pirate Capital LLC, whose AUM as of July 31, 2006 was $1.7BN, will soft-close its investment funds once the AUM reaches $2BN. The close is intended to give existing investors an opportunity to increase their investments in the funds, while controlling overall growth by limiting contributions from new investors. With subscriptions from more than 250 entities based in 26 countries, the firm has grown significantly since its inception. On July 1, 2002, Pirate Capital was started with an AUM of just $2MM.
Seeger Weiss LLP
Seeger Weiss LLP Announces a Class Action Lawsuit Against Par Pharmaceuticals Companies, Inc. -- PRX
NEW YORK, Aug. 16, 2006 (PRIMEZONE) -- The law firm of Seeger Weiss LLP announces that it filed a class action lawsuit today in the United States District Court for the District of New Jersey on behalf of purchasers of Par Pharmaceutical Companies, Inc. ("Par" or "Company") (NYSE:PRX) common stock in the open market between April 29, 2004 and July 5, 2006 (the "Class Period"). The complaint seeks remedies for the class under the Securities Exchange Act of 1934 (the "Exchange Act").
Bidville, Inc. Announces Changes in Name and Stock Symbol
BOCA RATON, Fla., Aug. 16, 2006 (PRIMEZONE) -- Bidville, Inc. (Pink Sheets:BVLE) amended its Articles of Incorporation to change its name to PrimEdge, Inc. (pronounced "prime edge") to reflect a change in the company's overall direction and focus. As a result, effective Thursday August 17, 2006, the new trading symbol of the Company's common stock on the Pink Sheets will be "PRMD"(Pink Sheets:PRMD).