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ARI has completed the re-work on all 4 wells, with those wells online and pumping. “This is an exciting day for us,” stated Proper Power President, Andrew Kacic. “This is the beginning of production for Proper Power in Kentucky, and we look forward to increasing our presence.”
Proper Power & Energy, Inc. (OTC:PPWE) just recently reported that it has restructured its executive management team and entered into a strategic alliance.
Andrew J. Kacic will replace Joseph Abdo as President of Proper Power & Energy. Mr. Kacic brings more than 32 years of progressive experience as a chief executive in oil and gas, investment banking, insurance services and public securities. Mr. Kacic was the founder and president of American Resources of Delaware, Inc. and its subsidiary Southern Gas Company, successfully taking assets from $220,000 to more than $40 million in less than 4 years. Mr. Abdo will remain the Chief Executive Officer and Chairman of the Board.
Concurrently to the management restructuring, the Company has entered into a strategic alliance with Douglas Kiggins, founder of Mayo Energy Partners. Mr. Kiggins will assist Mr. Kacic in the development of the Company’s Utah asset, with the target goal of drilling the first exploratory well in Utah by third Quarter 2011. Mr. Kiggins has participated in the drilling and development of over 250 oil and gas wells in Texas, Oklahoma and Colorado, with the deepest well reaching a total depth over 21,000 feet.
“The Company is now postured to accelerate the development of both Utah and Kentucky in the first Quarter 2011,” Mr. Abdo stated.
About Proper Power & Energy:
Proper Power & Energy was formed in 2006 as an exploration and production company for oil and gas. The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.
Global Hunter Corp. (the “Company”) (TSX.V: BOB.V) (FSE:G5D) has arranged a $2,500,000 loan to advance its Corona de Cobre project in Chile. The proceeds from the loan will be used by the Company to fund project expenses and for general working capital purposes.
The loan will have a two year term and loan principal will be convertible at the option of the lender in whole or in part into units (“Principal Units”) of the Company until eighteen months from the date of the loan advance at the price of $0.06 per Principal Unit. Each Principal Unit will be comprised of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for $0.10 at any time until eighteen months from the date of the loan advance. The loan will bear interest at the rate of 12% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into units (“Interest Units”) of the Company until eighteen months from the date of the loan advance at the price of $0.05 per Interest Unit. Each Interest Unit will be comprised of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for $0.075 at any time until eighteen months from the date of the loan advance.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. The loan principal and accrued interest will be secured by a pledge of the shares of the Company’s subsidiary, Global Hunter Chile Ltda., and may be repaid without penalty or bonus on 30 day’s notice. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. A finder’s fee equal to 6% of the loan proceeds will be paid in cash as permitted by policies of the TSX Venture Exchange and applicable securities laws. The loan is subject to acceptance by the TSX Venture Exchange.
Copper was one of the first metals ever extracted and used by humans, and it has made vital contributions to sustaining and improving society since the dawn of civilization. Copper was first used in coins and ornaments starting about 8000 B.C., and at about 5500 B.C., copper tools helped civilization emerge from the Stone Age. The discovery that copper alloyed with tin produces bronze marked the beginning of the Bronze Age at about 3000 B.C
Molybdenum is a metallic, silvery-white element which is very stable chemically but it will react with acids. The physical characteristic that makes molybdenum unique is that it has a very high melting point, 4,730 degrees Fahrenheit. This is 2,000 degrees higher than the melting point of steel. It is 1,000 degrees higher than the melting temperature of most rocks.
ITT Corporation (NYSE:ITT) announced that its board of directors has unanimously approved a plan to separate the company’s businesses into three distinct, publicly traded companies. Under the plan, ITT would execute tax-free spinoffs to shareholders of its water-related businesses and its Defense & Information Solutions segment. Following completion of the transaction, ITT will continue to trade on the New York Stock Exchange as an industrial company that supplies highly engineered solutions in the aerospace, transportation, energy and industrial markets. Under the plan, ITT shareholders will own shares in all three corporations following the completion of the transaction.
ITT Corporation designs, manufactures, and sells a range of engineered products, and provides related services worldwide.
Inergy, L.P. (NYSE:NRGY) announced that its wholly owned subsidiary, Inergy Midstream, LLC, is conducting a non-binding open season for firm wheeling service on an extension of its Tres Palacios gas storage facility pipeline header system. The proposed pipeline extension will create a new point of interconnection at the tailgate of Copano Energy, LLC’s (“Copano”) Houston Central gas processing plant in Colorado County, Texas.
Inergy, L.P. engages in retail marketing, sale, and distribution of propane to residential, commercial, industrial, and agricultural customer.
Honeywell International Inc. (NYSE:HON) announced that it has added new ballistic materials to its Spectra ShieldÂ® II line that offer further weight reduction, greater ballistic performance, and improved safety in soft armor applications, including military and law enforcement vests. The new product, Spectra Shield II SA 4144, offers a 25 percent improvement in ballistic performance compared with the first generation of Spectra Shield products, helping keep military and law enforcement personnel safer against a variety of threats, including military-grade pistol rounds and fragments. The material can also reduce the weight of personal armor systems by as much as 30 percent, allowing frontline personnel greater mobility in dangerous situations.
Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide.
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