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TuesdaySep 14, 2010 10:35 am

NF Energy Saving Corp. (NFEC.OB) Inks Contract with HF Bio-energy to Achieve 800-household Renewable Energy Project in China

NF Energy Saving Corp. provides energy saving services in China for the power, petrochemical, coal, metallurgy, construction and municipal infrastructure development industries. The company announced today it has entered into a work contract for an energy saving project with Fuxin HF Bio-energy Development Company, a company focused on biotechnologies that transform traditional small coal-fired plants to bio-powered plants for heat and power sources. Per the agreement, NF Energy will provide technical consultancy and project design, including equipment set up and testing. The main objective of the project is to develop bio-fuels to replace coal-powered energy sources, thereby reducing coal utilization…

TuesdaySep 14, 2010 8:35 am

Doral Energy Corp. (DRLY.OB) Enters Into Letter of Intent

Yesterday, Doral Energy Corp. announced that they entered into a Letter of Intent to combine with Pure Gas Partners II, L.P. of San Antonio, Texas. This business combination, which will be effected through the issuance of common shares of Doral Energy, will result in an effective change of control with current stakeholders of Pure owning eighty percent of the combined entity post-transaction. Doral Energy Corp. will, as part of this business combination, among other things, conduct a reverse stock split and name change. The combined entity will have their corporate headquarters in San Antonio, Texas while maintaining an operations office…

TuesdaySep 14, 2010 8:32 am

BMB Munai, Inc. (KAZ) Reaches Restructuring Agreement with Convertible Bondholders

BMB Munai, Inc. reported that the company has reached an agreement with a group of bondholders on a restructuring of one of its outstanding bond issues. BMB Munai, Inc. has been negotiating with the owners of $60 million principal value of the company’s 5% senior convertible notes due 2012. The restructuring changes are contained in Supplemental Indenture No. 2, to be executed by both the bondholders and the company. BMB Munai, Inc. is required to make a cash payment of $1 million towards the principal balance of the notes, and the company will also increase the interest rate on the…

TuesdaySep 14, 2010 8:30 am

Credo Petroleum Corp. (CRED) Reports Successful Well in North Dakota

Credo Petroleum Corp. reported the success of a horizontal well drilled in North Dakota. The company said that the well had the highest initial production rate of any well in its history. The Weisz 11-14#1-H well drilled over the last few months produced at an initial rate of production in excess of 2,000 barrels of oil equivalent (BOE) during an initial 24 hour production period. The well targeted the Middle Bakken formation and was completed with a thirty-seven stage hydraulic fracturing operation. Credo Petroleum Corporation said that the Weisz 11-14#1-H well was the company’s second successful well targeting the Middle…

TuesdaySep 14, 2010 8:01 am

Micro Identification Technologies, Inc. (MMTC.OB) Production Start-Up Plans Remain On Track

Micro Identification Technologies, Inc. announced today that its MIT 1000 System remains on track to begin production later this year. According to the press release, critical sub-system electronics have been successfully tested and the remaining tasks present no additional challenges for MIT and its contract manufacturer, OSI Optoelectronics, a subsidiary of OSI Systems (NASDAQ: OSIS). In the release, the company also noted that 8,500 pounds of beef were recently recalled due to E.coli contamination. The strain of E.coli causing the contamination was a shiga toxin-producing E.coli (STEC) known as E.coli O26 that many people believe should be classified as an…

TuesdaySep 14, 2010 6:59 am

Simulated Environment Concepts, Inc. (SMEV.PK) Announces Major Cost Reduction Initiative

Simulated Environment Concepts (SE Concepts), makers of the high pressurized dry water massage and relaxation station SpaCapsule, announced this morning its long anticipated plans of making an investment into the production process to significantly reduce the cost of manufacturing, thereby strengthening cash flow and profitability. According to the press release, execution may likely occur within the next few weeks. “This will be an important benchmark for us,” commented Dr. Ella Frenkel, Chairman and CEO of Simulated Environment Concepts, Inc. (SE Concepts). “With a retail price tag north of $25k, if the cost of manufacturing the Spa Capsule was greatly lowered,…

MondaySep 13, 2010 4:04 pm

Welwind Energy International Corp. (WWEI.OB) Receives $16.3M Infusion to Develop Wind Farm Project in China

Welwind Energy International Corp., founded to build, own and operate wind farms, today announced a formal Investment Cooperation Agreement (ICA) with Guangdong Yatu Industry Investment Co. Ltd. (GYII) to jointly develop wind farm projects in China, fueling Welwind with additional financing. Per the ICA, GYII will invest $16.3 million to co-develop Welwind’s first phase 49.5MW wind farm project in Zhanjiang of Guangdong Province. GYII will hold a 20 percent stake in the project. Additionally, GYII will appoint Welwind as its North American selling agent for its new wind turbine system technology; the companies will jointly establish a new turbine generator…

MondaySep 13, 2010 4:01 pm

Adino Energy Corp. (ADNY.OB) Completes Acquisition of PetroEnergy; Shares Jump 27%

Adino Energy Corp., an emerging oil and gas exploration and production company, today announced its acquisition of San Angelo, Texas-based PetroGreen Energy LCC and Petro 2000 Exploration Co., collectively “Petro Energy.” As a licensed Texas Oilfield Operator, Petro Energy currently operates 11 wells on two leases spanning roughly 300 acres in Coleman County, Texas. The company also owns a drilling rig, two service rigs and associated tools and equipment. According to the press release, the area in which the leases are located has generated active oil production from multiple pay zones since the 1950s. Adino says that while reservoir pressure…

MondaySep 13, 2010 1:30 pm

Vyteris, Inc. (VYTR.OB) Announces Agreement to Merge with MediSync BioServices

Vyteris Inc. is the developer and manufacturer of the first active, ready-to-use drug delivery patch (LidoSite) to receive marketing clearance from the US Food and Drug Administration. The company's proprietary transdermal smart patch technology, which allows for precise dosing, delivers drugs comfortably through the skin using low-level electrical energy. The company today announced that it has executed a definite merger agreement with MediSync Bioservices Inc. A privately-held company, MediSync is focused on the consolidation of niche contract research organizations, site management organizations and related businesses within the highly fragmented $22 billion contract drug development industry. Under terms of the agreement,…

MondaySep 13, 2010 12:33 pm

Mercer Gold Corp. (MRGP.OB) is “One to Watch”

Founded in 2004, Mercer Gold Corporation is a company that focuses on gold exploration and resource definition in Colombia. They acquired the prospective Guayabales Gold Project, located in the Marmato Gold District, Department of Caldas, earlier in 2010. The Company is exploring the Guayabales property and is looking to acquire additional prospective gold properties in Colombia. Mercer Gold Corp. trades on the OTCBB, and they have their headquarters in Golden, Colorado. The Company was formerly known as Uranium International Corp. They changed their name to Mercer Gold Corporation on June 9, 2010. Mercer Gold Corporation, entered into an Option Agreement…

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