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Magellan Energy Ltd. (Pink Sheets: MGLG) (December 19, 2007) an independent oil and gas company, is selling natural gas from wells on the Thomas D. Martin project in Morgan County, Tennessee in which it holds a 20% working interest. The operators for these wells, TMD Energy Inc., stated that the Citizens Gas Utility District have recently reconfigured the gas pipelines to allow gas from the wells to enter its system. A compressor has also been installed to increase production volume.
Magellan Energy is pleased to announce that the Martin lease is a mature producing oil and gas property that is being prepared for waterflooding. This ongoing project with TMD Energy Inc. will take some time to complete but with the newly installed compressor we will have increased gas production and revenue for Magellan Energy Ltd. The water flood project must still be subject to further research, geological surveys and studies to be properly executed. Until such time is determined, the wells will continue to operate at their new capacity, generating revenue with the new lines.
Magellan Energy is a publicly traded independent oil and gas company. The company is actively acquiring oil and gas leases, producing properties, mineral rights, and surface interests in Tennessee and Oklahoma. Once acquired, the company intends to develop each property to maximize the income from each property by re-establishing production, refurbishing and improving the existing production and operations.
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Ariel Way, Inc. (OTCBB: AWYI) (December 19, 2007) announced today that the Company has signed a Memorandum of Understanding with Noventri, Inc., a Maryland based "one-stop- shop" company for digital signage turnkey solutions, which include consultation, technology, software, content creation and management (www.noventri.com). Per the agreement, Noventri will become a strategic partner to Ariel Way and also form part of its management team, and will make available Noventri's top professionals to work hand-in-hand with Ariel Way's executives in many of the areas identified in Ariel Way's Digital Signage Business Plan.
Noventri has designed, developed and installed dynamic digital signage systems at locations like Delaware Park; Marriott Inner Harbor, Baltimore; Charles Town Races and Slots, West Virginia; Maryland Science Center, Baltimore; Camden Yards, Baltimore; Newseum, Washington D.C.; Baltimore Convention Center; University of Maryland; Penn State University; and Trump Marina, Atlantic City.
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Solar EnerTech Corp. (OTCBB: SOEN) (December 19, 2007) announced that it has entered into a sales contract with Sky Solar (Hong Kong) International Co., Ltd., a subsidiary of Sky Global Group to distribute solar modules. Sky Global Group is a global distributor and system integrator of solar panels.
The total shipment to Sky Solar under the contract amounts to approximately US$21.8 million. Shipments, aimed for solar power installations in Spain, are scheduled to be delivered over a 5-month period beginning in December 2007, with the majority of solar module shipments scheduled for the Company's 2008 fiscal second quarter.
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GreenShift Corporation (OTCBB: GSHF) (December 19, 2007) provided an update to its shareholders regarding the status of its pending distribution. As previously announced, GreenShift shareholders of record as of December 12, 2007 will receive the following distributions:
Distribution to Distribution to Total Holder of One Holder of 10,000 Distributed Shares GreenShift Share GreenShift Shares GS CleanTech Corporation (OTCBB: GSCL - News)
20,800,000 0.104 1,040 GS Energy Corporation (OTCBB: GSEG - News)
1,000,000,000 5.000 50,000 GS EnviroServices, Inc. (OTCBB: GSEN - News)
2,000,000 0.010 100
This distribution is being made to GreenShift shareholders of record as of December 12, 2007. However, because shares are being distributed, the ex-dividend date for this distribution will be the date on which the certificates are actually mailed to the shareholders.
While the distributions are currently being processed, GreenShift expects to mail the certificates to its shareholders on or about December 26, 2007. The exact mailing date will be announced once all three securities are ready for distribution.
Any GreenShift shareholder who held shares as of December 12, 2007 but then sells GreenShift shares between December 13, 2007 and the mailing date will be required to deliver the distributed shares to the purchaser when they are received. The delivery of the distributed shares will be accomplished by the seller's broker.
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