InvestSource, Inc.: Ernest G. Sorochan, P. Eng. Appointed as Mainland Resources, Inc. Board Director

Jul 21, 2008 (M2 PRESSWIRE via COMTEX) -- ZION | Quote | Chart | News | PowerRating -- Stocks in the News: Mainland Resources, Inc. (OTC Bulletin Board: MNLU), Freddie Mac (NYSE: FRE), Teco Energy Inc. (NYSE: TE), Baker Hughes Incorporated (NYSE: BHI), Atlas Pipeline Partners, L.P. (NYSE: APL) and Zions Bancorporation (NASDAQ: ZION)

July 18, 2008 -- Mainland Resources, Inc., a Nevada corporation (the "Company") (OTC Bulletin Board: MNLU | Quote | Chart | News | PowerRating) has appointed Ernest G. Sorochan, P. Eng. as a Director of the Board effective July 17, 2008. Ernest G. Sorochan is a Professional Engineer with a long history of project management, engineering oversight, economic evaluation and operational experience working for international oil and gas companies. Mr. Sorochan has built a professional career focusing on understanding all technical aspects of planning, drilling, evaluating and completing high-pressure sour gas fields as well as operations of gas plant facilities. Beginning with his experience as a District Manager with Dowell Schlumberger Corporation (1972-1988) and as the Drilling Completions Superintendent with Alberta Energy Company International's operations in Neuquen, Argentina (1995-1997), Mr. Sorochan gained in-field experience in managing multi-well completion projects, drilling and work-over programs. He also evaluated and supervised contract drilling, and was the liaison for oil companies and local regulators. He served as Senior Production Engineer for Momentum Enterprises Inc. (1997-1998), managing their operations in Western Ukraine and the economic evaluations and technical review of gas properties in the Ukraine, Romania and Bolivia. He was Manager of Business Development for Calgary, Alberta-based Redwood Energy, Ltd. (1998-2000), responsible for developing their evaluations and technical review of oil and gas properties in Western Canada, Wyoming, Argentina and Bolivia. He later served as that company's Vice President, Operations (2002-2004) and took over added responsibilities for all production, drilling, completion and work-over operations in Canada. He also held the position of Technical Manager for Pan Ocean Oil Corporation (2000-2002) in Lagos, Nigeria, where he was head of production, drilling and completion on fields that account for current production of 20,000 BOE per day. Most recently, Mr. Sorochan joined Compton Petroleum Corporation (2004-2008) of Calgary, Alberta to provide engineering support for areas in Southern Alberta, conduct economic evaluations and capital expenditures, coordinate completions, and help recommend new wells and select new exploration areas. Ernest Sorochan received his B. Sc. in Chemical Engineering at the University of Alberta and a Diploma in Gas Technology from the Northern Alberta Institute of Technology. He is a member of the Society of Petroleum Engineers and the Association of Professional Engineers, Geologists, and Geophysicists of Alberta.

July 18, 2008 -- Freddie Mac (NYSE: FRE | Quote | Chart | News | PowerRating) announced that it has become a registrant with the United States Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934. In connection with the registration process, Freddie Mac filed a Form 10 registration statement with the SEC that includes unaudited financial statements for the quarter ended March 31, 2008, and audited financial statements for the full years 2007, 2006 and 2005. "Becoming an SEC registrant marks an important milestone for the company and demonstrates our commitment to enhanced transparency and financial reporting," said Chairman and Chief Executive Officer Richard F. Syron. "It demonstrates the continued progress we've made to strengthen Freddie Mac's foundation and ensure that we can continue to serve our vital housing mission. It is important to note that this registration statement does not relate to an offering of securities." "With this accomplishment, we conclude what was a difficult chapter in Freddie Mac's history and join the ranks of other large, public financial institutions as an SEC registrant," said Buddy Piszel, executive vice president and chief financial officer. "Along the path to SEC registration, we've upgraded our internal controls and financial reporting to strengthen our business, resulting in a return to timely quarterly financial reporting."

July 18, 2008 -- Teco Energy Inc. (NYSE: TE | Quote | Chart | News | PowerRating) notified the Florida Public Service Commission (FPSC) that based on its most recent analysis of actual and projected fuel costs for 2008, total fuel costs for the year will exceed original projections. Costs experienced so far exceed projections by 9 percent, but with no relief expected for the balance of the year and the continuation of increased costs, the company estimates that by year-end, it will be under-recovered by $209 million, or about 20 percent. Under Florida's regulated system, when a utility becomes aware that its projected fuel revenues will result in an over- or under-recovery in excess of 10 percent of its projected fuel costs for the period, the utility must notify the FPSC. Given the proximity to the scheduled annual fuel filing in September, the company has chosen not to seek to adjust its fuel charge mid-year. Instead, it intends to address the under-recovery through its 2009 fuel charge. While a substantial portion of an electric bill, fuel costs are what is known as a "pass-through" component. They are collected from customers by the utility and used to pay fuel suppliers, typically the large oil and coal companies. Tampa Electric makes no profit on the fuel charge portion of the bill.

July 18, 2008 -- Baker Hughes Incorporated (NYSE: BHI | Quote | Chart | News | PowerRating) is providing corrected information for regional operating profit before tax for its Middle East Asia Pacific (MEAP) and Europe, Africa, Russia, Caspian (EARC) regions for the thirteen quarters from the quarter ending March 31, 2005 through the quarter ended March 31, 2008 and is identified on the attached schedules as "(Corrected)". The original data was released on July 8, 2008. The corrected disclosure reflects an increase in operating profit for the MEAP region which exactly offsets the decrease in operating profit for the EARC region in each quarter. There were no changes to any other previously disclosed information.

July 18, 2008 -- Atlas Pipeline Partners, L.P. (NYSE: APL | Quote | Chart | News | PowerRating) affirms its previously announced anticipated increase in distributable cash flow per unit guidance after 1.3x coverage of $2.00 to $2.20 per unit for the second half of 2008. The mid point of the guidance range represents a 14% increase compared to cash distributions paid in the second half of 2007 after 1.2x coverage. In addition, APL affirms full year 2009 guidance of $4.25 to $4.50 of distributable cash flow per unit after 1.3x coverage. APL will provide a review of second quarter operating results and an update of ongoing growth initiatives on its upcoming quarterly earnings call scheduled for August 1, 2008. Atlas Pipeline Partners, L.P. is active in the transmission, gathering and processing segments of the midstream natural gas industry. In the Mid-Continent region of Oklahoma, Arkansas, northern and western Texas and the Texas panhandle, the Partnership owns and operates eight gas processing plants and a treating facility, as well as approximately 7,900 miles of active intrastate gas gathering pipeline and a 565-mile interstate natural gas pipeline. In Appalachia, it owns and operates approximately 1,600 miles of natural gas gathering pipelines in Pennsylvania, Tennessee, New York and Ohio.

July 18, 2008 -- Zions Bancorporation (NASDAQ: ZION | Quote | Chart | News | PowerRating) announced that its board of directors declared a regular quarterly dividend of $0.43 per common share. The dividend is payable August 20, 2008 to shareholders of record on August 6, 2008. Zions Bancorporation is one of the nation's premier financial services companies, consisting of a collection of great banks in select high growth markets. Zions operates its banking businesses under local management teams and community identities through more than 500 offices in 10 Western and Southwestern states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. The company is a national leader in Small Business Administration lending and public finance advisory services. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to subsidiary banks can be accessed at http://www.zionsbancorporation.com.

Wall Street closed out an impressive week with a mixed performance Friday after disappointing high-tech earnings punctured some of investors' enthusiasm over better-than-expected bank earnings reports. But the major indexes still ended the week with big gains, the result of rising optimism about the troubled financial sector. The market was clearly pleased when Citigroup Inc., while reporting a second-quarter loss Friday morning, beat analysts' forecasts and joined Wells Fargo & Co. and JPMorgan Chase & Co. in delivering stronger results than the market anticipated. But investors who ecstatically sent the Dow Jones industrials soaring by more than 480 points over Wednesday and Thursday were brought back down to earth by results from Google Inc., Microsoft Corp. and Advanced Micro Devices Inc. Google's results were lower than expected, the result of the weakening economy hurting advertising revenue, while Microsoft missed forecasts by a penny. Also, AMD's chief executive stepped down after the chip maker posted a wider-than-expected loss. Still, the market that has hungered for good news about financial companies after a year-long credit crisis got it from Citi. The banking company reported a $2.5 billion second-quarter loss due to write-downs tied to deteriorating credit markets. The results surpassed projections, and helped to mitigate some of the market's concerns following a big loss from Merrill Lynch & Co. reported late Thursday. It was a good sign to some analysts that the market didn't sell off sharply after two straight days of hefty gains. "If you look at the fundamentals, not a lot of changed in the fundamentals, but you had the financial crisis come to a head," said Philip Dow, managing director of equity strategy at RBC Dain Rauscher. "This was a pivotal week that we just went through, one that perhaps marked a bottom for the financial crisis. That doesn't mean we're about to have a bull market, but maybe a break in the pronounced selling that's been going on." More banks are among the companies reporting next week: Wachovia Corp., Washington Mutual Inc. and Bank of America Corp. And hundreds of other big corporations will also be releasing results, keeping the market on edge as investors try to determine whether an economic rebound might be in the offing. According to preliminary calculations, the Dow rose 49.91, or 0.44 percent, to 11,496.57. Broader stock indicators were mixed. The Standard & Poor's 500 index rose 0.36, or 0.03 percent, to 1,260.68, and the technology-focused Nasdaq composite index dropped 29.52, or 1.28 percent, to 2,282.78. For the week, the Dow rose 3.57 percent, the Nasdaq increased 1.95 percent, and the S&P rose 1.71 percent. Bond prices were little changed Friday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.05 percent from Thursday's 4.00 percent. The dollar was mixed against other major currencies, while gold prices fell. Meanwhile, oil prices retreated after rising earlier in the session. A barrel of light, sweet crude fell 41 cents to settle at $128.88 on the New York Mercantile Exchange. Oil's huge pullback this week -- dropping about $16 over three days -- also fed Wall Street's big rally. Stock investors have been worried that consumers forced to pay more for necessities including fuel and food will continue to cut back on their discretionary spending, something that would further hurt a struggling economy. While the week on Wall Street showed that a market long pummeled by bad economic news can quickly turn around, there have been many times over the past year when a huge gain quickly evaporated at the first sign of trouble. So while many investors felt that it was safe to lay down some bets this week, everyone on the street is mindful that there can be further steep losses ahead.

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