Turning Pennies into dollars: (Pink Sheets: FNAT), (Pink Sheets: HCPC), (Pink Sheets: ERUC).
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First National Entertainment Corp, Inc. (Pink Sheets: FNAT) (February 27th, 2008) First National Entertainment Corp, Inc., a U.S. based independent oil and gas company, is announcing it has negotiated to participate in the Dunaway #1 Well in Seminole County, Oklahoma.
First National Entertainment Corp. has agreed to participate in the recompletion of the Dunaway #1 well and an 80 acre lease in Seminole County, Oklahoma. The Dunaway #1 well was originally drilled to a depth of 3200' and has produced from the Viola Lime and Calvin Sands formations. The Dunaway #1 is located in the highly prolific Seminole County in central Oklahoma. First National has established the work-over procedure and will hire contract operator Proem Energy Management to perform the recompletion procedures. Work is scheduled to begin in the spring 2008.
Potential production of both gas and oil at today's energy prices makes this opportunity a perfect fit for First National Entertainment's strategy of building a low risk portfolio of oil and gas assets one well at a time, creating cash flow for the company while mitigating risk through recompleting wells in well established production areas that have extensive infrastructure of gas sales lines to get product to market immediately.
First National Entertainment Corp. is a publicly traded independent oil and gas company. The company is focused on maximizing shareholder value by building a diversified portfolio of oil and gas assets in the Appalachian Basin, Texas, and Oklahoma.
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Heritage Capital Credit Corporation (Pink Sheets: HCPC) (February 26th, 2008) Heritage Capital Credit Corporation announced the closing of two financings totaling $11.1 million for its BCLOC Program.
The first transaction was for $808,000.00, which closed on February 22, 2008. This included a separate $234,000 renovation loan for a small hotel. The funding for this hotel will commence upon the first construction draw for renovation.
The second transaction for the commercial office building closes in two phases. The first phase closed today for $10,307,000. The second phase is for $5,500,000, which was arranged by the Company through an independent third party lender. The funding is scheduled to commence on March 7, 2008.
Both loans were closed as part of the BCLOC Program.
Weekly updates on the status of the BCLOC Program are provided on the website: http://www.independentcapitalcreditcorp.com. The information will include new financings that enter the pipeline and progress reports.
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ER Urgent Care Centers (Pink Sheets: ERUC) (February 26th, 2008) ER Urgent Care Centers is proud to announce that it has successfully completed the expansion of its many workman's comp. contracts. ERUC has now added physical therapy and rehab to all its centers. To complete the services provided for the carriers we have also added Physical Therapy, Massage Therapy, Ultra sound, hot and cold packs, EMS or electric muscle stimulation to all ERUC locations. We are now capable of treating all types of soft tissue injuries. These procedures will add significant revenues to each center without an increase in overhead. We continue to work towards reaching our many goals for 2008, the main one being profitability.
"If we can continue to add services and therefore revenues, without increasing overhead our goals will be reached at a far greater speed than originally forecasted," said Jerry Miller, ERUC Founder.
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