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First National Entertainment Corp. (Pink Sheets: FNAT) (Tue, February 12th, 2008, 7:30am ET) First National Entertainment Corp. announced here today it is focusing its initial efforts in oil and gas in the Appalachian Basin, concentrating in Tennessee.
The Scott, Morgan, and Fentress Counties of upper east Tennessee are well known for shallow oil and gas production, some with high rates of flow. The area is known for multiple pay zones, including the Monteagle Limestone, the Ft. Payne Limestone, the Chattanooga Shale as well as the deeper Trenton-Black River and Knox groups.
Our initial plan is to build a lease position in Morgan, Scott and Fentress counties for future drilling as well as acquiring well bores in which the Chattanooga Shale is exposed. We believe the Chattanooga Shale is destined to become a major source of natural gas for the eastern seaboard. One recently drilled horizontal well in Morgan County had an open flow of 3.9 MMCF per day.
First National Entertainment Corp. is a publicly traded independent oil and gas company. The company is now under new management and 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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KKS Venture Management, Inc. (Pink Sheets: KKSV) (Tue, February 12th, 2008, 11:22am ET) KKS Venture Management, Inc. announced that it has entered into a Letter of Intent (LOI) to purchase the majority control of Codima Technologies Ltd. Codima Technologies is a privately held company based in London, UK and a global provider of best practice software tools. Terms of the agreement were not disclosed.
Codima Technologies develops; sells and markets Codima Toolbox, software tools for VoIP Management and Infrastructure Management helping organizations manage their network infrastructures.
Codima Toolbox delivers a unique beginning to end solution.
The VoIP tools test VoIP networks for VoIP readiness and adds post-deployment monitoring, troubleshooting and analysis to ensure Quality of Service for VoIP networks.
The Infrastructure Management tools discover, visualize and report on hardware and software installed, on any network using Microsoft Office Visio .
Main tools are Codima autoVoIP and Codima autoMap.
Codima Technologies has formed several partnerships and is a key solution provider to Microsoft Visio Toolbox, a Microsoft Partner and an Avaya Gold Partner.
"KKS Venture Management, Inc. is focused on driving combined growth and value. In working with Codima Technologies we have experienced a company with good resources in technology and business. We expect to achieve good results as we move forward in this planned business combination." comments KKS Venture Management, Inc. CEO Alfonso Knoll.
"Codima Technologies delivers an easy to use, cost efficient, versatile and highly visual solution that has been very well received by the market. In our continued commitment to enhance our technology and business operation we welcome new opportunities to take Codima Toolbox forward." says Christer Mattsson, CEO at Codima Technologies. "The LOI entered with KKS Venture Management, Inc. consolidates our aim to drive growth and value."
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Sigma Global Corporation (Pink Sheets: SGGC) (Tue, February 12th, 2008, 2:00pm ET) Sigma Global Corporation, an emerging oil and gas Company, has announced that it has completed all work on Well 1A. The new well had solid flow and is the first new producing well to come online for the Company. The Company is also looking to complete Well 2A which was previously drilled. This second well is expected to be producing within the next two weeks. Once both wells are online the Company will make preparations to drill two new additional wells on the property.
Brian Conrad, Sigma Global's CEO, stated, "This is a very exciting moment as we have just brought our first new well online. We took advantage of the break in weather to get Well 1A up as soon as we could. We are hoping to get the second well online by next week and shortly after we should have some data to project production rates. I expect these two wells to strengthen our bottom line significantly."
The Company would like to further announce that the company attorneys are continuing the process of restructuring which includes reducing the authorized shares, changing the name of the Company to Pradera Energy Corp and obtaining a new CUSIP number.
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SILVERADO FINANCIAL (Pink Sheets: SLVO) (Tue, February 12th, 2008, 10:19am ET) SILVERADO FINANCIAL is pleased to announce that it has acquired WATER SKEETER SPORTS INNOVATIONS, INC. ("WSSI") of Stockton, California.
WSSI has established itself as an industry leader in personal pontoon craft and float tubes, and plans to expand its current line of products with the introduction of several new leading-edge technologies which have been engineered and retrofitted for synergistic use with its products. More information about WSSI can be found at www.waterskeeter.com.
WSSI had sales exceeding $925,000 during 2007, and now expects to increase that number substantially during 2008.
Finally, Silverado is also currently engaged in negotiations to hire a new Chief Financial Officer. It is Silverado's intention to have our new CFO generate current, accurate financial statements, in full compliance with GAAP and all relevant PCAOB standards, and to publicly release these statements as soon as possible. Subsequently, Silverado plans to have these statements fully audited, and then apply for resumption of reporting status shortly thereafter.
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