bullstox.com: Stock Mid-Day Gainers -- BullStox.com SPRL, UNCN, GRMU, ITWJ
Rochester, NY, Apr 19, 2005 (M2 PRESSWIRE via COMTEX) -- BullStox.coms "Stock Mid-Day Gainers" this afternoon are Strat Petroleum, Ltd. (Pink Sheets: SPRL), Unico Inc. (OTCBB: UNCN), GREM USA (OTCBB:GRMU), Integrated Software Development Inc. (Pink Sheets: ITWJ).
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Strat Petroleum, Ltd. (Pink Sheets: SPRL - News) issues update of financing for the Saratov oil site for up to $10 million line of credit towards acquisition and development of the site.
The Funding Group is currently completing its due diligence of the documentation received which includes licenses to the fields, preliminary valuation of the licenses by a British petroleum engineering services company, assets owned by the Company, and other reports and documents provided.
The Funding Group will be acquiring a 25% working interest in the wells being financed which are initially expected to be drilling of the two producing wells to bring them to commercial production status and then begin drilling of four new sites identified. The funding will not result in any further dilution as no new equity is expected to be issued to the Group.
Strat has also been in discussions with a private financing group and has received a letter of intent to fund the Company up to US $10 million to complete the acquisition, increase production from the two producing wells, and drill four new wells for which all approvals have been received. Further news about this opportunity will be released once due diligence and agreements have been completed.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Unico Inc. (OTCBB: UNCN - finance.yahoo.com ) Unico Inc. announced that the Phase II diamond core drilling program is successfully underway at the Deer Trail Mine in Marysvale, Utah, under the combined efforts of its wholly owned subsidiary, Deer Trail Mining Co. LLC, and Connors Drilling. The drilling program is designed to comply with industry standards in establishing mineral resources and mineable reserves.
The Phase II underground diamond core drilling is targeting known mineralized horizons and is seeking to discover new horizons of mineralization in and around the main ore channel of the Deer Trail Mine. Among other zones, the Callville Formation is one area that has been identified in this phase. The program is also slated to penetrate the underlying Redwall unit, which is viewed by the company's geologists to be a highly favorable host for mineralization and could potentially be more significant than either the Callville or the Toroweap formations. Historically, these formations are the only two stratigraphic horizons exploited by any mining activities at the Deer Trail mine.
Preparations made by the Deer Trail Mining Co. LLC are now complete to re-open the PTH Tunnel and accommodate the drilling program inside the Deer Trail Mine.
In its process to re-open the PTH Tunnel, the company has raised its safety standards at the Deer Trail Mine under the cooperation of the Mine Safety and Health Administration or MSHA. The company has finished the retraining of its current employees for underground mining activities and has completed certain improvements on its mine facilities to comply with government regulations and standards.
The Deer Trail Mining Co. LLC has hired Talon Resources Inc. to provide alternative miner rescue capabilities in connection with its mine rescue team and has recently completed its inspection of the underground mining activity in the PTH Tunnel. Talon Resources provides a wide variety of services to the industry including environmental assessments and permitting, construction inspection, surveying, engineering, instrument calibration, permit tracking, surveys for landfill and hazardous waste sites. They also provide mining and other subsurface location maps and global positioning system surveys.
"Safety is critically important to our project, and Talon Resources has been brought in to provide its strong expertise and knowledge of this matter. The company has a comprehensive program to make certain companies adhere to government requirements," stated Mark A. Lopez, CEO of Unico Inc.
The company has upgraded and purchased new equipment to complete its underground transportation rail system. It has also installed a new underground communication system complete with new phones and wiring.
In conjunction with outside contractors, the company has repaired the current high voltage system and infrastructure to meet MSHA standards to accommodate its underground diamond core drill program.
The company has installed a new heated water pumping system. A water transportation truck was purchased and 4,000 ft. of new water line was put in place to supply the water needed for the underground drill program and future mining activities.
"The Phase II underground diamond core drilling program at the Deer Trail Mine is another positive milestone that Unico has reached since it initiated work at this site last year. Through our continued progress in this phase, we expect to not only determine the best locations for future mining activity, but also ascertain the quantity and quality of ore deposits in order to establish certified reserve calculations for the Deer Trail Mine," commented Lopez.
"The initiation of Phase II drilling brings the company one critical step closer to establishing steady and significant revenue streams from the activities of its mining properties. To achieve our goal of drawing out the value of Unico's portfolio companies, it is essential that management is able to marshal the resources necessary to properly execute its operations plan. We continue to ask for shareholder support as we move forward to fully develop the company's subsidiary mine properties, draw out what are believed to be significant mineral resources in the mines and increase the value of the company's investment portfolio," Lopez added.
GREM USA (OTCBB:GRMU - finance.yahoo.com ) GREM USA announced that the Company has reached a manufacturing milestone by successfully setting up the majority of the Company's production operations with manufacturing equipment within its facility in Northeast Indiana, located at 19020 State Road 1, Spencerville, IN 46877.
The Company's facility is now equipped with all of the necessary equipment to produce the Company's line of custom handmade guitars. Additionally the Company announced that it has successfully begun production of hard shell guitar cases within the facility. The Company will include a hard shell case with purchase of each guitar. The Company will also sell the hard shell cases separately.
The Company presently has five original designs in its line of guitars. The Company's present guitar line includes the following designs: the "Uppercut", the "GREM Reaper", the "Free Radical", the "FT-101" and the "GREM Standard". Collectors and music enthusiasts interested in purchasing one of the Company's custom handmade guitars are encouraged to phone the Company directly at 260-238-2000 for more details.
Edward Miers, President/CEO of GREM USA, stated, "With today's announcement, I believe the Company has reached another important milestone in our quest to become a significant player within our industry. I am both enthusiastic and optimistic about the Company's progress towards growth of operations."
Additionally, Mr. Miers stated, "Company management continues to diligently work on ramping up operations so that the Company will be capable of processing large production runs that will enable the Company to enter into the mass retail market with a superior quality guitar that the Company can proudly state is Hand Made In America."
Integrated Software Development Inc. (Pink Sheets: ITWJ - finance.yahoo.com ) Integrated Software Development Inc. is an Israeli software company providing enterprise software. The Company's software enables small- and medium-sized organizations to optimize day-to-day functions such as workforce management, contact center operations, and asset management. Integrated's BENEFIT++ includes customer resource management solutions.
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