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Dec 09, 2008 -- BioShaft Water Technology Inc. (the "Company" or "BioShaft") (OTCBB: BSHF | Quote | Chart | News | PowerRating) is pleased to announce that through a proposal by its agent Light Environmental, a pilot plant in Wayne, Nebraska has been accepted by the city council.
BioShaft will set up a 10,568 gallon per day pilot unit in Wayne for a period of 3 months. The City will be able to perform daily tests at the plant and compile data that will be compared against the current system, an RBC ("Rotating Biological Contactor") system.
Dr. Hans Badreddine, president of BioShaft said: "This pilot plant is very significant to the Company and our expansion into the United States. We are very excited to be working with the city of Wayne, Nebraska to set up a pilot plant for their engineers to test our system and provide data that can be compared against existing systems. We believe that our plants will perform much better, more cost effectively and much more environmentally friendly than current systems being used in the U.S."
About BioShaft Water Technology Inc.
BioShaft is a green innovative wastewater treatment technology based on Bio-Filtration utilizing biofilm carriers. These plants are made using the BioShaft Turbo Reactor that is at the heart of the wastewater technology. The plant have many benefits over traditional wastewater treatment systems, including the virtual elimination of sludge and odors and requires significantly less land. It is patented in the UK and the patent is pending in the United States. To date there are more than 30 waste water treatment plants throughout the world using this technology.
Dec 09, 2008 -- Capital City Energy Group Inc. (OTCBB: CETG | Quote | Chart | News | PowerRating) continues to expand in the domestic energy space with its strategic acquisition of Hotwell Services Inc., an emerging oilfield service company operating in the Appalachian Basin.
The addition of Hotwell Services, Inc. to the Capital City Energy Group portfolio of operating subsidiaries will significantly contribute to the Company's value proposition for clients, shareholders and employees.
Based on current projections, Hotwell could add an additional $2,000,000 in gross revenue per month and $700,000 per month in net cash flow for 2009.
Hotwell Services Inc. specializes in wireline operations that include down-hole formation evaluation, perforation and well completion. The company utilizes industry-leading technology and a commitment to data integrity to provide superior efficiency and reliably accurate results. It operates several wireline trucks primarily from facilities that are strategically located in Delmont, Pa. and Clarksburg, W.Va. The company's clients include many of the nation's preeminent, Independent Oil & Gas Producers.
Hotwell Services Inc. is led by its president, Joseph Sites, who founded Hotwell Services in November of 2007. A Pennsylvania native with a degree in Chemical Engineering from the University of Pittsburgh, Joseph has a record of achievement in both publicly held (Schlumberger Limited) and privately held (J-W Wireline Company) oilfield service firms. Mr. Sites possesses domestic and international experience in all facets of the wireline business including field engineering, operations management, personnel development and business development. Throughout his professional career, Mr. Sites has been routinely recognized as a leader in service quality and safety - the two cornerstones of successful oilfield operations.
"Our acquisition of Hotwell reflects the execution of our strategic plan to develop a portfolio of core areas that provide growth opportunities in all facets of the oil and natural gas industry," said Timothy Crawford, CEO of Capital City Energy Group. "Geographically, Hotwell is tactically situated in an area of the country where the oil and natural gas fields are close to market."
Hotwell will continue to operate under its current name and management team. The acquisition provides the necessary infrastructure and support for the company to accelerate its ambitious growth plans in the Appalachian Basin.
"We expect this exciting new venture and our bold plans for growth to further position Capital City Energy Group as an innovative and influential player in the oil and natural gas industries," Crawford said.
"This is a tremendous opportunity for Hotwell Services, Capital City Energy Group and the shareholders in each company," Joseph Sites, president of Hotwell Services. "By drawing on the resources and advantages of each company, we are all poised for great success."
About Capital City Energy Group Inc.
Based in Columbus, Ohio, Capital City is a diversified oil and natural gas company with three separate divisions. Capital City has evolved from being an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs to become one of the few vertically integrated independent oil and natural gas companies, which is publicly-traded. Its strategy is to continue to grow a portfolio of core areas which provide growth opportunities through grass-roots drilling, operating, service companies, acquisitions and fund management.
About Hotwell Services Inc.
Based in Delmont, Pa. and Clarksburg, W.Va., Hotwell Services Inc. is a full service wireline company servicing the northeast region of the U.S. The company provides industry-leading technology and ensures data quality for formation evaluation (lithodensity, nuclear, resistivity) and cased hole evaluation (pulsed neutron, production logging strings). The company's strategy is to build the newest, state-of-the-art fleet of cranes, pressure equipment and wireline trucks and furnish the operating companies with the most experienced and trained engineers with an average of 20 years local experience with independent and major engineers.
"Investing in America's Energy Future"(TM)
Dec 09, 2008 -- Natco International, Inc. (OTCBB: NCII), in response to numerous calls and emails from shareholders, and potential shareholders, would like to clarify the three most asked questions with the following:
1. Is Natco International Inc. issuing over 300 million shares in a reverse merger with Lassen Energy, Inc?
- No, the company is no longer issuing over 300 million shares in a reverse merger with Lassen Energy Inc. as was contemplated in the Share Exchange Agreement dated April 18, 2008. It was replaced with the Share Transfer Agreement and License Agreement, dated November 26, 2008. As per the Share Transfer Agreement, Lassen Energy Inc. has issued 25,252,500 shares to Natco International Inc., and Natco has issued 8,915,871 shares to Lassen. These shares are currently being held in escrow, pending closing.
2. Is Natco International Inc. still contemplating a stock rollback of its common stock?
- No, the company is not contemplating rolling its stock back as was contemplated in the Share Exchange Agreement, dated April 18, 2008. There will be approx. 37 million shares outstanding in Natco International Inc. post the Share Transfer Agreement. It will also own just over 25 million shares of Lassen Energy Inc., and the intellectual property license for the Lassen Hybrid Solar Panel in the countries of Canada, India, and the state of Hawaii.
3. Why wasn't the name and contact information of the third party evaluator disclosed publicly in the companies recent press release regarding the Lassen Hybrid Solar Panel test?
- The test was a pre-condition that Natco International Inc. required in order to complete the Share Transfer Agreement and License Agreement by having third party verification of the Lassen Hybrid Solar Panel performance. The individual who conducted and verified the test is a currently employed professor of electricity and is not set up to be able to receive hundreds of emails and phone calls per day.
- Natco has the independent test results on file and has also seen the Lassen Hybrid Solar Panel operate. Using one Lassen Hybrid Solar Panel measuring (62.5 X 32.5 X 3.5), test results achieved expectations with measurements averaging 13 amps and 208 volts, which calculates to 2704 watts, and with peaks over 3000 watts. Natco is now in the process of finalizing the Share Transfer and License Agreements.
Dec 9, 2008 -- Propalms, Inc. (OTCBB: PRPM | Quote | Chart | News | PowerRating) is pleased to announce that the Company's CEO, Mr. Owen Dukes, was featured in an interview with ChannelWorld, a weekly Indian publication specializing in coverage in major world markets throughout India. Mr. Dukes discussed the Company's push to increase and strengthen its virtualization market share throughout India. In the article, Mr. Dukes explained that the Company is planning to open a sales office in Mumbai to help support its distribution and reseller channel.
Propalms currently sells products in fifty countries with more than 2500 individual customers. Most of the Company's revenues have come from North America and Japan. According to Mr. Dukes, the Company will work with its Indian distributors to assist in signing new clients as well as train, support and recruit a network of resellers in India.
ChannelWorld is the only weekly channel publication in India. Accessible both online and in print, ChannelWorld provides credible and timely coverage of technology news, trends, opportunities and threats that could impact the channel business. Through its special reports and investigative stories by seasoned journalists, ChannelWorld provides insight into various markets throughout India.
Propalms has gained many new distributors this year, creating sales and paving the way for many more while increasing its global presence. In the past year, Propalms has signed agreements with Y-B Initiatives & Projects in Israel, Liontech Company, Ltd. in Kenya, TEQDIS in India, Jump In I.T. in Hong Kong and Singapore, and TECNOSYS in South America, among others.
"Our three point definitive agenda for the Indian market includes appointing new partners, implementing marketing initiatives and striving for business growth. It is also our firm commitment to only sell through the Channel and partner with all major virtualization vendors and offer an open connection to enhance and manage virtual environments," stated Owen Dukes, CEO of Propalms, Inc.
About Propalms, Inc.:
Propalms, Inc. is a global provider of application delivery solutions for Terminal Services and Virtual Desktop Infrastructures. Delivering to enterprises of all sizes, Propalms offers reliable, scalable and affordable solutions that simply work. Our belief is that application delivery solutions should be flexible, dynamic and, above all, simple to use.
Dec 09, 2008 -- Striker Oil & Gas, Inc. (OTCBB: SOIS | Quote | Chart | News | PowerRating) announced today that it has successfully drilled its third well on its Catfish Creek Prospect located in East Texas. The third well was drilled to a total depth of 10,815 feet to test the Bacon Lime and Gloyd sections of the Rodessa and the Pettit formations. The well has been logged and net feet of potential pay in all three zones approximate 26 feet.
This prospect consists of over 9,000 gross acres with depths earned to 100 feet below the base of the Pettit formation. Full development of this prospect could result in 20 to 40 wells. Striker has approximately 33% working interest before payout (25% after payout) on this prospect.
"We are happy that we have successfully drilled our third well on our largest prospect," said Kevan Casey, Chief Executive Officer of Striker. "We expect to begin the completion phase of this well within the next 30 days at which time we will attempt a completion in the Pettit gas zone."
About Striker Oil & Gas
Striker Oil & Gas, Inc. is an upstream U.S. oil and gas company headquartered in Houston, Texas and traded on the Over-the-Counter Bulletin Board (SOIS.OB). The company is engaged in the search for and sale of oil and gas reserves through both exploratory drilling and the acquisition of producing properties. Striker's objective is to cost efficiently develop these properties and market the oil and gas production at the wellhead. Striker is strategically focused along the Texas Gulf Coast, East Texas and South Louisiana in areas of developed infrastructure and established markets.
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