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FridayOct 03, 2008 1:16 pm

Trans Energy, Inc. (TENG.OB) Announces the Drilling of Their First Horizontal Well in Marcellus Shale

Trans Energy, Inc. today announced that it has commenced the drilling of the Anderson #7H well in Wetzel County, West Virginia. The well will be drilled and completed horizontally in Marcellus Shale, a prolific “resource play” in Appalachia. According to the press release, the property is similar to the Barnett Shale which has become a significant base of hydrocarbon reserves in Texas. Trans Energy intends to drill the vertical portion of the new well to a depth above the kick-off point and set casing. Later, a larger rig will continue drilling the horizontal portion at approximately 7,000 feet below the…

FridayOct 03, 2008 1:06 pm

Gilla Inc. (GLLA.OB) Signs Definitive Agreement to Acquire Terra Merchant Resources Corporation

Today, after the bell, Gilla announced that it entered into a definitive agreement to acquire all the shares of Terra Merchant Resources Corporation ("Terra"), a private company incorporated in Canada. According to the press release, Terra has secured rights to a gold exploration property in Angola. The concession is located about 120 km north of Cabinda City, Angola and covers approximately 200 square kilometers. As terms of the agreement, Terra shareholders will receive 1 share of Gilla common stock as well as one warrant for one half of one Gilla common stock exercisable for 6 months at $0.60 per common…

FridayOct 03, 2008 12:28 pm

Jobs Continue to Disappear

Figures for September's job losses were in on Friday, nearly doubling the amount of jobs cut in August. 159,000 Americans were handed a pink slip last month, marking the ninth straight month of losses which are increasing at their fastest rate in five years. It was also indicated in Friday's Labor Department report, that the total number of unemployed has now reached 9.5 million; that's 2.2 million people who are newly unemployed this year. Let us hear your thoughts below:

FridayOct 03, 2008 12:27 pm

Bailout Pushed Through Congress – Bush Signs

In an act that will certainly go down in history, Congress approved the $700 billion corporate bailout package which has been the subject of much debate over recent weeks. The final tally in the House was 263-171. From there, the bill was passed on to, and promptly signed by president George Bush, who said: "We have acted boldly to help prevent the crisis on Wall Street from becoming a crisis in communities across our country." Some citizens are relieved, while others are outraged. Only time will tell if this major decision will prove to be correct. Let us hear your…

FridayOct 03, 2008 12:26 pm

Wells Fargo & Company (WFC) to Purchase Wachovia Corp.

Tensions flared this Friday morning between Wells Fargo and Citigroup over the purchase of Wachovia Corp. In a surprise move, Wachovia agreed to be acquired by Wells Fargo in a $15.1 billion all-stock deal. Citigroup demanded that the deal be called off, insisting that negotiations with other entities was prohibited as part of the agreement it had reached with Wachovia on Monday. Under the Wells Fargo deal, Wachovia shareholders would receive the equivalent of 0.1991 shares of Wells Fargo stock for every share of Wachovia stock they own - that's about seven dollars per share. Let us hear your thoughts…

FridayOct 03, 2008 12:16 pm

RedChip Featured Company: Cubic Energy, Inc. (QBC)

Cubic Energy, Inc. (QBC) is an independent energy company focused on the exploration, development, and production of natural gas and crude oil. As its name suggests, the company takes a multi-dimensional focus on the integration of engineering, financial management and earth sciences in its oil and gas exploration efforts. Cubic plans to pursue low-risk opportunities while building high-yield reserves. The company received landmark news at the end of July 2008 that it had received approval to be listed on the American Stock Exchange (AMEX). Cubic’s common stock began trading under the symbol “QBC” on August 4th. The shares had previously…

FridayOct 03, 2008 12:11 pm

Red Chip Featured Company: Datameg Corporation (DTMG.OB)

Datameg Corporation (DTMG.OB) is a holding company committed to positioning itself to deliver next-generation network services and environmentally conscious plastics to help the environment. At this time, the company is working to roll out customers’ Internet voice, data and video services while continuing to evaluate technological advances for development or advancement. Datameg has a diverse group of subsidiaries making up its framework and expects its subsidiaries, NetSymphony, QoVox, and American Marketing & Sales, to contribute to its profitability and cashflows. QoVox is on a mission to become a leading provider of network monitoring and fault isolation tools for telecom networks.…

FridayOct 03, 2008 11:25 am

Dragon International Group Corp. (DRGG.OB) Creates Protection for Sensitive Materials Packaging

Dragon International Group Corp. (OTCBB: DRGG) is a manufacturer and distributor of high-end packaging products specifically intended for the packaging of pharmaceuticals, as well as food and beverages, and operates as an agent of pulp and related paper products. The company's core products are cold-forming blister aluminum foils, tropical blister foil, and the laminated strip packs. In June of 2006, Dragon International acquired Shanghai Jinkui Packaging Material Co., Ltd. and transitioned itself into a manufacturing and distribution company packaging products for tobacco, alcohol, gifts, cosmetics, and tea to specialty packaging products, which created a higher gross margin for the company.…

FridayOct 03, 2008 11:11 am

RAM Energy Resources Inc. (RAME) Details Q3 Financial Benchmarks; Anticipates Strong Q4

Independent energy company RAM Energy Resources Inc. (Nasdaq: RAME) today announced its improvements to certain financial benchmarks and liquidity at the end of the third quarter, as well as its expectations for the fourth quarter. The company said it successfully met its goals for the quarter and is maintaining a solid financial position. For the nine-month period ended September 30, 2008, RAM’s non-acquisition expenditures were funded internally. As of September 30, long-term debt was approximately $246 million, while cash and cash equivalents were estimated at $7 million, up slightly from $237 million posted in June 2008. At the end of…

FridayOct 03, 2008 11:09 am

Altair Nanotechnologies Inc. (ALTI) Rolls Out New Corporate Brand Identity to Reflect the Changing Company in a Changing Industry

Altair Nanotechnologies Inc. (Nasdaq: ALTI) provides advanced materials and products for power and energy systems. The company’s lithium-based battery products are applicable to hybrid vehicles and energy storage systems for large-scale stationary power services. The company today unveiled its new corporate brand identity that signifies the company’s new focus on the transportation, stationary power and military markets. The updated brand includes a new logo, as well as the new tagline – “Changing the Energy Revolution.” The company has also launched a new Web site and targeted advertising campaign. The company said it has observed needs in the market place and…

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