Latest Companys Spotlight GLEWall Street Capital Funding LLC: Latest Companys Spotlight: RENG! November 28, 2006
Weston, FLA., Nov 28, 2006 (M2 PRESSWIRE via COMTEX News Network) --
Wall Street News Alert's "stocks to watch" this morning are: Radial Energy Inc. (OTCBB: RENG), Universal Property Development and Acquisition Corporation (OTCBB: UPDA), Dhanoa Minerals Ltd. (OTCBB: DHNA), Oilsands Quest Inc. (AMEX: BQI) and Glencairn Gold Corporation (AMEX: GLE).
In addition to Wall Street News Alert's other stocks to watch today, it appears to be a good time to start watching Radial Energy Inc. (OTCBB: RENG) again this morning! Yesterday after the stock markets closed, the company, focused on acquiring and developing overlooked and under-exploited oil and natural gas reserves in North and Latin America issued a press release updating the progress at the Huaya 100-1X well on the Company's Block 100 oil project in Peru.
The company was pleased to report that drilling has reached a current depth of 235 feet and that 9 5/8-inch surface casing has been set and cemented.
It looks like more good news for the company! The well is being drilled to test a mapped structural closure, which an independent reserve assessment conducted by Boulder, Colorado-based Gustavson Associates, estimates may have trapped significant oil reserves, including 15.3 million gross barrels of oil classified as Proven Undeveloped. The Company plans to reach a target depth of approximately 950 feet, at which point logging and testing activities will commence.
Chief Operating Officer Omar Hayes remark, "We are pleased to have reached the 235 foot mark and despite relatively slow progress are pleased with the strides made to-date and are looking forward to logging the well to determine its full potential once drilling is completed."
Wall Street News Alert is continuing to place Aggressive Investors and Speculators on alert to monitor the progress of Radial Energy! Several days ago, Radial Energy issued a press release announcing that it is moving forward rapidly on multiple fronts and discussing recent developments in each of the company's oil & gas projects, detailing significant progress in Peru, Colombia, Texas and Utah. In the press release, company President G. Leigh Lyons, stated, "To date we have made major strides with each of our oil & gas projects, laying the groundwork for significant and sustained growth"
For an updated Wall Street News Alert in-depth profile of Radial Energy, visit https://www.thenewssvc.com/RENG112706.html A Market Advisors Analyst Report, placing a target price of $3.25 can be found at: https://www.growthstockresearch.com/ (the report was not written by, and may not express the views of Wall Street News Alert).
Before the news was released, the stock closed Monday at Eighty Three cents a share.
To view all of Wall Street News Alert's special early morning trading alerts for this morning, visit www.WallStreetNewsAlert.com, where you may also sign up to receive free email alerts in advance of our press releases being issued.
In case you are not familiar with the company: Radial Energy identifies, acquires and develops low-risk oil and natural gas exploration and development opportunities throughout the Americas. The company's innovative strategy involves targeting overlooked or under-developed reserves that are under the radar of multinational oil companies and out of the reach of small independents.
The company targets highly prospective oil and natural gas plays in historically productive regions with a primary focus on identifying previously drilled but undeveloped exploratory wells that due to factors at the time of initial drilling including the absence of pipeline infrastructure, lack of modern recovery technology, poor geological or engineering interpretation or low oil and gas prices, weren't fully exploited.
Radial Energy has rapidly assembled an impressive portfolio of oil and gas plays including working interests in two separate oil and gas prospects located in Cherokee County, Texas, as well as in the Block 100 oil project located within the Huaya Anticline area in the Ucayali Basin of eastern Peru.
Universal Property Development and Acquisition Corporation (OTCBB: UPDA) up 6.3% on 15.4 million shares traded.
Universal Property Development and Acquisition Corporation subsidiary Canyon Creek Oil and Gas, Inc., recently stated it has returned its Archer County Regular Field and Coleman County oil and gas field to production while the Catlin Oil and Gas, Inc. subsidiary completes the workover of the Catlin Field and continues to increase the production from its wells in Jack County.
Dhanoa Minerals Ltd. (OTCBB: DHNA) up 8.9% on 186,000 shares traded.
Dhanoa Minerals Ltd. recently announced that it has entered into a Letter of Intent with the vendors of the Minera Paraiso Minelparsa, S.A. ("Paraiso") mining property in southern Ecuador.
Oilsands Quest Inc. (AMEX: BQI) up 7.1% on 1.4 million shares traded.
Oilsands Quest Inc. formerly CanWest Petroleum Corporation, recently announced that two core drilling rigs are now operating on its oil sands exploration permits in northwest Saskatchewan and a third rig is expected to start drilling soon. Drilling began on November 3 and, as a result of favourable weather conditions, drilling activities are being stepped up. For winter 2006/07, Oilsands Quest has planned an aggressive drilling program of up to 250 core holes.
Glencairn Gold Corporation (AMEX: GLE) up 6.3% on 588,000 shares traded.
Glencairn Gold Corporation recently reported its financial and operating results for the three month and nine month periods ended September 30, 2006 (all currency figures in U.S. dollars). The consolidated financial statements along with management's discussion and analysis will be available for viewing on the Glencairn website at www.glencairngold.com. The documents are being filed with SEDAR (www.sedar.com) and should be available on SEDAR no later than 24 hours from dissemination of this release.
Market Commentary: "Consumer debt is at an all time high, so far $2.366 trillion through the 3rd quarter of 2006. It was only at $1.871 trillion in all of 2001, and $2.294 trillion in 2005. The average credit-card balance was $9,159 in 2005," Stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: https://www.WallStreetNewsAlert.com.
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