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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.
The up and down, rise and fall in gasoline and diesel prices over the last few of years shows the changes in the cost of crude oil. Those changes are decided in the global crude oil market by the worldwide need for and supply of crude oil. Weak economic conditions in the U.S. and all over the world in 2008 and into 2009 led to a weaker demand which helped knock prices down. Now, with the worldwide economic recovery, demand is rising again and is helping to catapult prices higher.
In addition to economic advancement, crude and product prices relate to a plethora of other factors including weather events, geopolitical risks, inventories, exchange rates, and spare capacity.
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.
Crown Equity Holdings Inc. (OTCPK:CRWE) recently reported its financial results for the nine month period ending September 30, 2010. Revenue for the nine months totaled $1,073,383 compared to $418,959 during 2009. The Company incurred an operating loss of $54,527 for the nine months ending September 30, 2010 compared to an operating loss of $36,923 during the same period in 2009. Net loss of $343,049 for the nine months ending September 30, 2010 compared to a net loss of $29,379 for the same period in 2009. The net loss in 2010 was attributed mostly to an unrealized loss of $307,544 on securities held by the Company.
“Our continued progress in operations including an operating profit of $7,251 during the last quarter shows a continued growth in our business,” commented Kenneth Bosket, President and CEO of Crown Equity Holdings Inc. “Not only do our financial results show strong growth during this year but our continued investment in infrastructure will support our future growth,” stated Bosket.
Crown Equity Holdings Inc. is extending its internet footprint internationally to include the following countries; Argentina, Brazil, Canada, China, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Korea, Malaysia, Mexico, New Zealand, Pakistan, Russia, Singapore, Spain, South Africa, Taiwan, United Arab Emirates and United Kingdom.
Corcept Therapeutics Inc. (Nasdaq:CORT) announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $3.90 per share. All of the shares in the offering are being sold by Corcept. Corcept has also granted the underwriters of the offering a 30 day option to purchase up to 1,500,000 additional shares to cover over-allotments, if any. Corcept anticipates aggregate net proceeds from the offering to be approximately $36,360,000, assuming no exercise by the underwriters of their over-allotment option. The offering is expected to close on or about January 26, 2011, subject to customary closing conditions.
Corcept Therapeutics Incorporated, a pharmaceutical company, engages in the discovery and development of drugs for the treatment of severe metabolic and psychiatric disorders. The company focuses on the development of drugs for disorders that are associated irregular levels of the steroid hormone called cortisol.
Severn Bancorp Inc. (Nasdaq:SVBI) announced net income of $607,000 for the fourth quarter, an increase of $3.3 million compared to a net loss of $2.7 million for the fourth quarter of 2009 . Net income was $1.2 million, or ($.06) per share for the year ended December 31, 2010, compared to a net loss of $15.2 million, or ($1.68) per share for the year ended December 31, 2009. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
Severn Bancorp, Inc. operates as the holding company for Severn Savings Bank, FSB and SBI Mortgage Company that provide retail and mortgage banking services in Maryland, Delaware, and Virginia. It accepts various deposit products, including checking, savings, money market, NOW, time deposit, non-interest bearing, and individual retirement accounts, as well as certificates of deposit.
Immunomedics Inc. (Nasdaq:IMMU) announced that repeated therapy cycles of its proprietary antibody, clivatuzumab tetraxetan, labeled with yttrium-90 (Y-90) plus low-dose gemcitabine at 200 mg/m2, extended median overall survival (OS) to 11.8 months, more than double the 5.4 months OS in patients treated with a single cycle. Increased Y-90 doses also improved responses; patients receiving a dose of 12 mCi/m2 or higher once a week for 3 weeks reporting a median OS of 8.0 months versus 6.0 months at doses of 9 mCi/m2 or less, once a week for 3 weeks.
Immunomedics, Inc. engages in the research, development, manufacture, and marketing of monoclonal antibody-based products for the treatment of cancer, and autoimmune and other serious diseases.
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