July 2010 - QualityStocks

FridayJul 30, 2010 3:45 pm

Earthstone Energy, Inc. (BSIC.OB) Reports Completion of New Bakken Well

Earthstone Energy, Inc., www.earthstoneenergy.com – the growth and profitability-focused independent oil and gas firm (formerly Basic Earth Science Systems, Inc., originally formed 41 years ago as a geophysical service company) with substantial operations in the Rocky Mountain Region and Texas/Gulf Coast, reported yesterday that XTO Energy Inc. (acquired by Exxon Mobil Corporation in 2010) finished BSIC’s new well and placed it in production. This newest well, the Mondak Federal #11X-14H (Section 14, T148N-R105W), is targeting the Bakken Formation in BSIC’s Williston Basin operations and is reported by XTO to have an initial output production rate of 489 BPD, 251 MCF…

FridayJul 30, 2010 3:43 pm

Novo Energies Corp. (NVNC.OB) Acquires License to Breakthrough Tire and Plastics Gasification Technology

Novo Energies Corp., www.novoenergies.com – the alternative energy company executing a strategy focused on developing recycling centers (plastics/tires) which utilize advanced methods to yield energy and other commodities, announced entry today into a Technology Collaboration Agreement with ASME-certified welding and vessel fabricator Precision Pipe and Vessel, LLC. The Agreement will also allow for the subsequent acquisition of a worldwide exclusive license to Precision’s proprietary gasification technology. Able to convert plastic and tire waste into energy, synthetic gases and other viable commodities like recovered steel, the novel, Precision-developed gasification technology will be employed to augment Precision's Colorado pilot plant while NVNC…

FridayJul 30, 2010 3:30 pm

Pioneer Bankshares, Inc. (PNBI) Posts Positive Q2 Earnings

Pioneer Bankshares Inc. today posted its financial results for the period ended June 30, 2010, reporting increases across the board despite overall burdensome economic conditions. Company management acknowledged the potential threat to its operational results and said it continually monitors economic risks to identify and thwart specific trends that could negatively affect operations. The parent company of Pioneer Bank reported net earnings of $784,000 for the period ended June 30, 2010, up 8.59 percent as compared to the $722,000 reported in the same period of 2009. Total earnings per share as of June 30, 2010 were $0.76 compared to $0.71…

FridayJul 30, 2010 3:27 pm

LPath, Inc. (LPTN.OB) Receives $3 Million Grant from the National Eye Institute BRDG-SPAN Program

Lpath, Inc. announced today that it was awarded a $3 million dollar grant by the National Eye Institute’s BRDG-SPAN Program. This is the maximum amount of the program which is designed to accelerate the transition from the development to commercialization of innovative technologies that improve human health, advance the mission of NIH, and create significant economic stimulus. The funds will be used to support Phase II clinical development of Lpath’s iSONEP™ for the treatment of exudative (or wet) age related macular degeneration (AMD) and possibly other ocular disorders. AMD is a medical condition that usually affects older adults which results…

FridayJul 30, 2010 11:44 am

Bank of Napa (BNNP.OB) Reports Solid Q2 Results; Achieves First Profitable Quarter

Bank of Napa today posted its first profitable quarter in its operating history, reporting net income for the second quarter of 2010 at $57,000, up from a net loss of $136,000 for the second quarter of 2009. Total deposits were $72.8 million, up from $17.8 million reported for the second quarter of 2009. Loan totals for the second quarter were $67.2 million, up from $12.98 million for the comparable quarter of 2009. "We are pleased to attain profitability in these challenging economic times, and will continue to focus on producing consistent and conservative balance sheet growth," Bank of Napa president…

FridayJul 30, 2010 11:34 am

GeoPetro Resources Company (GPR) Updates Status of Alaska Project

GeoPetro Resources Company (GPR) issued a status report on the Alaska Cook Inlet Project, the company’s oil and gas development project located in Alaska. GeoPetro Resources Company has exercised its contractual right to convey to Linc Energy, the company’s partner in the Alaska Cook Inlet Project, a 100% interest in 122,000 acres of leases at the project. GeoPetro Resources Company will receive $1 million cash upon closing, followed by 75% of the proceeds of the sale of oil and gas from the leases, up to a maximum of $4 million. After the payout to GeoPetro Resources Company reaches $5 million…

FridayJul 30, 2010 11:32 am

Exar Corp. (EXAR) Reports Highest Quarterly Revenue in Fifteen Years

Exar Corporation reported its highest quarterly revenue in fifteen years, as the company shipped more than 100 million units in the first quarter of fiscal 2011, which ended 6/27/2010. Exar Corporation reported revenue of $39.6 million in the first quarter of fiscal 2011, up sequentially from the $38.5 million reported in the final quarter of fiscal 2010. Reported revenue was up on a year over year basis as well from the first quarter of fiscal 2010, when the company came in with revenues of $30.9 million. Despite the good top line results in the quarter, Exar Corporation was unable to…

FridayJul 30, 2010 11:30 am

American DG Energy, Inc. (ADGE) Announces Exclusive Rights Agreement for Europe

American DG Energy Inc. supplies low-cost energy to its customers through distributed power generating systems. The company offers clean electricity, heat, hot water and cooling solutions to hospitality, healthcare and other industrial facilities at lower costs than charged by local utilities. It does this without any capital or start-up costs to the energy user through its On-Site Utility energy solutions. For customers seeking an alternative to the outright purchase of on-site energy systems, American DG Energy will design, install, own, operate and maintain a combined heat and power system. Since American DG owns the on-site energy system, customers pay no…

FridayJul 30, 2010 11:28 am

MultiCell Technologies, Inc. (MCET.OB) Completes and Launches New Website

One company that is starting to earn a reputation as a friend to both investors and medical patients is MultiCell Technologies. Located in Woonsocket, Rhode Island, MultiCell is a clinical-stage biopharmaceutical company that is developing novel therapeutics and discovery tools to address unmet medical needs for the treatment of neurological disorders, hepatic disease and cancer. Today, MultiCell took a major step towards enhancing its future with the launch of a new interactive website. The website was created to provide a new look and updated information about discovery technology platforms and leading drug candidates. Another attractive feature of this website is…

FridayJul 30, 2010 11:26 am

Demand and Price Wave Boosts Oil Company Profits, Though Recovery Concerns Keep Investors Nervous

The second largest U.S. oil company, Chevron Corp (NYSE: CVX), has reported a three-fold increase in quarterly profits, with Q2 net income jumping to $5.4 billion ($2.70 per share) from $1.75 billion for the same quarter last year, and revenue increasing 32% to $53 billion. As a further vote of confidence, the company has announced an unlimited stock repurchase plan. Chevron’s numbers come from rising production, together with higher energy prices and strong margins. The average per barrel sales price for oil and other liquids was 34% higher than it was a year ago, while the sales price for natural…

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Month: July 2010