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ZAP (OTCBB: ZAAP) 4/16/08 Electric car interest is picking up as gas prices push toward record highs, according to US electric car dealers.
AP reported that retail gasoline prices rose to a new average national record of $3.386, according to a survey by AAA and the Oil Price Information Service. Prices were highest in California, where mid-range and higher grades are now averaging more than $4 a gallon.
AAA said gas prices are becoming a top priority with consumer surveys. Some are starting to buy gas-free, rechargeable battery powered electric cars. ZAP has delivered more than 700 of its Xebra electric city-cars and trucks. The Northern California company is developing a nationwide network of dealers with locations opening in places like Davis, California, Leavenworth, Kansas and West Palm Beach, Florida.
Recent controversy over laws mandating the production of electric cars brought consumer demand into question, with automakers saying consumers are much more likely to buy hybrids than pure electric cars. Still some persist saying demand is growing and there are few vehicles on the market to fill the demand for electric cars.
"The ZAP Xebra was the only production EV available that could obtain such speeds and actually be driven on regular roads," wrote electric car dealer Jonathan Ortiz of Foreign Affairs Auto in West Palm Beach. "I kindly invite anyone in disbelief to enter my showroom doors to see first-hand simple evidence that an Electric Vehicle Dealership can be viable."
Experts talk about many ways of saving gas, but electric vehicles have shown to be very cost-effective compared to gasoline. Your average gas fill-up can cost over $60, yet a vehicle like the ZAP recharges for about 60 cents. Typical customers are homeowners and fleet operators. More power companies and public utility companies are offering off-peak metering plugs that can save even more.
ZAP is developing a range of electric vehicles along with its sales and service network. Based in Santa Rosa, California, ZAP is expecting dealers and distributors from around the world at its next service training and seminar for prospective electric vehicle outlets, scheduled for April 25, 2008.
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Spicy Pickle(TM) fast casual restaurants (OTCBB: SPKL) Spicy Pickle, Inc. (OTCBB: SPKL) announced today its same store sales for the first quarter of 2008 compared to the first quarter of 2007 rose nearly 5%.
The comparison includes the 16 Spicy Pickle(TM) restaurants that were open during both the first quarter of 2007 and the first quarter of 2008. The total revenues of those combined restaurants yielded a 4.64% increase over 2007. Spicy Pickle(TM) noted that because these restaurants are owned by franchisees the revenues are not reflected in Spicy Pickle Franchising, Inc.'s consolidated financial statements.
Today, there are 36 Spicy Pickle(TM) restaurants open and operating.
Marc Geman, CEO of Spicy Pickle Franchising, Inc. commented: "We believe the increase in same store sales of 4.64% over 2007 is a remarkable achievement against a backdrop of an economic recession. For the most part, other restaurant operators have reported declining sales or very minimal growth. Spicy Pickle is delivering significant growth at the store level in a very difficult environment."
"As the Spicy Pickle name gets out, people are trying the food and coming back. The increase in same store sales represents an endorsement of our food and model. People are still taking a break from their work day and seeking out healthy food that tastes great."
"We are known and have a relatively long history in Colorado. Four of the sixteen stores in the same store calculation were in other states. The evidence confirms we can be successful even at the early stages when our name is not as well known. This coupled with the 4 franchise agreements, which encompass 25 franchised restaurants we have sold outside of Colorado this year, bodes well for our future development."
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Platina Energy Group, Inc. (OTCBB: PLTG) 4/17/08 Platina Energy Group, Inc. recently acquired "down hole" oil field technology as part of a licensing agreement from the University of Texas. The patented technology solves a common problem in the oil and gas industry with certain types of wells whereby the ability to produce natural gas at the same time as oil, had previously been limited.
According to experts in the field, when a specific well has oil reserves above a gas production zone, the gas pressure is often not sufficient to allow for simultaneous retrieval and essentially blocked by the oil. This technology uses a combination jet and submersible pump above the oil levels in the earth's crust and thereby allows it to pass without resistance.
The President, Blair Merriam commented, "This technology simultaneously brings up both oil and gas, which means you capture the gas instead of venting it off. Not only is this economically advantageous, it is also environmentally responsible. In addition to potential applications for the Company, we intend to offer sublicensing agreements to other Companies who can benefit from this technology."
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SpongeTech(R) Delivery Systems, Inc. (OTCBB: SPNG) 4/14/08 SpongeTech(R) Delivery Systems, Inc. announced that it is a season sponsor of the New York Mets(TM) and will have a Promotional Day at Shea Stadium on Tuesday, May 13, 2008. SpongeTech's(R) Delivery Systems' COO, Steven Moskowitz, commented, "On this day, we will distribute t-shirts to the first 12,000 kids ages 12 and under in attendance. These t-shirts will be emblazoned with the Mets(TM) logo commemorating the Mets(TM) playing at Shea Stadium from 1964 through the end of the 2008 season. In addition, there will be a children's clinic on the field prior to the game. We are very excited to be sponsoring the Mets and having the opportunity to reach many of their fans. There will be promotional announcements on TV and radio prior to the game, as well as signage at the stadium throughout the last season at Shea. This is a great way for people to become familiar with the SpongeTech(R) name and encourage them to try our products to experience the value of our patented technology."
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Yellowcake Mining Inc. (OTCBB: YCKM) 4/14/08 Yellowcake Mining Inc. annonced that it has selected Stewart Brothers Drilling, Milan, New Mexico, to execute the Phase One drilling program at our Uravan-Beck uranium project on the Colorado Plateau. The program consists of completion of over 20,000 feet of rotary drilling at ten sites where significant uranium mineralization is indicated by the presence of close-spaced drill holes which were completed during the 1970s and 1980s. Most drill targets are at shallow depths of less than 150 feet. Drilling will commence following receipt of the proper governmental permits.
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Victory Energy Corporation (OTCBB: VYEY) 4/14/08 Victory Energy Corporation announced that the Corporation has brought two new wells online in its Canyon Sandstone gas play located in the Texas Permian Basin.
On Friday stimulation work for wells #166-8 and #166-3 was successfully completed. Both wells were frac'd with stimulation jobs designed using computer modeling based upon characteristics for these types of wells. Computer modeling is utilized to provide superior production performance of Canyon Sandstone gas wells. A work-over rig has been moved onto location to begin swabbing back the stimulation fluid that had been pumped into the formation. It is anticipated that the wells will kick off and flow on their own by April 21st. Once the wells have produced back enough of the stimulation fluid where it will not interfere with production testing, the single point production test will be conducted and completed by May 20th.
The drilling contractor is drilling the tenth well for Victory, #166-12. The contractor reports drilling is progressing as expected and the rig should reach total depth to the target zone, the Canyon Sandstone gas zone, by April 30th.
"Our plan upon completion of the tenth well is to prepare to drill a deep well targeting the Strawn Limestone zone. A deep Strawn Limestone gas well will take this particular project to the next level, providing potentially higher levels of returns for the investors and our shareholders," stated Jon Fullenkamp, President of Victory Energy Corporation.
Each Canyon Sandstone gas well in this field will produce approximately 500,000,000 cubic feet of gas for Victory over a 35-year average production life. A 5,000-foot deep Canyon Sandstone well initially tests at an average of 250,000 cubic feet of gas per day. A Strawn Limestone gas zone will produce approximately 1.5 BCF over an average life span of 30 years. The Strawn zone is usually found at 9,000 to 9,800 feet.
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