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Brownstone Resources Inc. (Pink Sheets: BWNR) (December 4, 2007, 8:00am ET) Brownstone Resources Inc. is pleased to announce that the company has signed a Letter of Intent (LOI) with a private mineral resource development company which will ultimately enable Brownstone the right to earn a 50% participating ownership interest in a select group of gold mining claims in northeastern Arizona. The claims are located approximately 70 miles outside of Flagstaff, Arizona.
Preliminary geophysical work undertaken by the founding company has been completed on the property to test the potential of the property to host gold mineralization.
Work performed to date, involving limited geophysical surveying to test, on surface, the potential of the known anomalies to host gold mineralization, and subsequent surface sampling and fire assaying of the samples have been undertaken and completed by the original claim owners. The results of both the geophysical surveying and the sample collection and assaying have yielded promising initial results, and was the basis for Brownstone entering into the LOI.
Brownstone will now proceed with a formal site visit to the property to verify the information provided to them, and complete all necessary due diligence. Once the visit and reconciliation of information is completed to management's satisfaction, Brownstone will, based on the original LOI, create the formal participation and JV agreement which both companies will enter into, going forward.
The company will make further announcements on the LOI and subsequent signing of a formal agreement.
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Magellan Energy Ltd. (Pink Sheets: MGLG) (Wed, December 5, 2007, 8:30am ET) Magellan Energy Ltd., an independent oil and gas company, announced today that its management team were on site in Morgan County, Tennessee along with the operators of Ky-Tenn Oil Inc. to oversee the acid treatment project for the Thomas L. Davidson Well #1.
Magellan Energy has been working with Ky-Tenn officials to re-work the Thomas L. Davidson Well #1 located in Morgan County, Tennessee. The treatment scheduled for November 26, 2007 continued on time and with success. The goal for this project was to frac this well with a combination of acid and water to increase productivity. The well was treated with 2000 GL of hydrochloric acid (15%) and 500GL of water. The well reacted very well to the treatment and reached a pressure of 250(lbs). Once all the fluids were introduced the well was closed off. On November 27, 2007 Ky-Tenn Oil Inc re-opened the well which still maintained a pressure 0f 160 (Lbs) and swabbed the well for half the day. The oil presence was extremely strong, so that it was placed immediately back onto the pump. The size of the well compressor/motor is small but the well continued to produce 5 BOPD until it ran out of gas without pumping off. The results will not be finalized until the well stabilizes and maintains a steady flow.
Magellan Energy's President, Mr. Akrivos, said, "We are very pleased with the initial results of the test and that the well did not pump off during the first day of production.
Ky-Tenn Oil Inc. will be adding a larger motor to the well to maintain a steady flow throughout the day without disruption to production thus enabling us to get a steady barrel count. We have to understand that this well was treated in the past and although we did not get the pressure of 1500 lbs, we anticipated the well still reacted very nicely to this treatment and has come back with an increased production rate. Until the well stabilizes and we upgrade the motor we will be unable to give continuous, accurate barrel count. This success is the first stage of many for Magellan and its shareholders. We will continue to focus on our quest to place Magellan on top as a reputable, revenue producing company in the oil and gas industry with proven results for shareholders."
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DealerAdvance, Inc. (OTCBB: DLAV) (Wed, December 5, 2007, 8:00am ET) DealerAdvance, Inc., announced today that the Company has entered into a long-term agreement with automotive exclusive advertising agency Humphries Marketing Group (HMG) to provide direct marketing services to DealerAdvance customers beginning in 2008. According to HMG's Chris Humphries, "Our Own Your Zone concept, as seen by National Automobile Dealer Association (NADA), 20 Groups will now be provided to Dealer Advance clients throughout the USA."
In making the announcement, VP of Sales Dave Scaturro said, "We are pleased to be able to provide our dealers with direct mail (conquest, service and special finance mailers), e-mail blast and newspaper insert campaigns to our customers at huge discounts."
DealerAdvance CFO Dave Wange said, "The company expects to generate $1.5 to $2.0 million in new revenue in 2008 by providing HMG's products to our current customers."
According to Company officials, details of the direct marketing product will be debuted at the NADA Exposition in San Francisco in February 2008.
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Alchemy Creative, Inc. (Pink Sheets: ALMY) (Wed, December 5, 2007, 7:00am ET) Alchemy Creative, Inc., a nationally recognized corporation focusing on children's education through multi-media and inventive educational products, announced today that it has partnered with ExxonMobil (NYSE:XOM), the world's largest publicly traded international oil and gas company, in an effort to improve Math and Science education on a global scale through its Adventures Of The Elements' products. Additionally, ExxonMobil has provided ALMY with funding to propel its efforts in children's education in an expeditious manner.
Rex W. Tillerson, Chairman and CEO of ExxonMobil Stated:
"ExxonMobil believes that education is the key to progress, development and economic growth. We are committed to being a responsible partner in the communities where we operate. ExxonMobil recognizes the essential role that proficiency in math and science plays in the energy business, and in facilitating human progress more generally."
"Excellence in math and science education in the United States has a direct correlation to the country's ability to successfully compete, prosper and be secure in the global community of the 21st century," stated Rex W. Tillerson, Chairman and CEO of ExxonMobil.
ExxonMobil has supported Alchemy Creative's Adventures of the Elements' both in schools and through funding. ExxonMobil continues to provide support to schools in the use of these science products.
Rex W. Tillerson, Chairman and CEO of ExxonMobil, has said that "continuing to make focused and aggressive improvements in both the way the subjects are taught and learned will make a vital impact in retaining the nation's economic competitiveness and reassuring young people of a secure future".
"We are truly honored by the funding that we have received from ExxonMobil. Aligning efforts through a mutually beneficial partnership with its organization allows us to remain on the forefront of our industry as well as bring tremendous exposure to our children's educational products. The creditability and support we have obtained as a direct result of this partnership has rendered positive results in all areas of our organization," stated Willard G. McAndrew III, President of Alchemy Creative, Inc.
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