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North American Energy Resources, Inc. (OTCBB: NAEY) Trading at $0.79, Up 14%. Announced Tuesday after market close that it has entered into a letter of intent to acquire 480 mineral acres in Washington County, Oklahoma. The leases include 14 existing oil producing wells. At current oil prices, the acquisition would provide NAEY enough positive cash flow to drill additional wells. Historically, Wayside wells initially flow 3-5 BOPD.
The acquisition of these leases would be a major step in bringing NAEY to profitability. Aggregate stripper wells can be economically managed to produce profits," stated Ross Silvey, President of North American Energy Resources, Inc.
What They Do: North American Energy Resources (NAEY) is an independent oil and natural gas company, engaging in the acquisition, exploration, and development of oil and natural gas properties with a focus on properties in northern Oklahoma. Currently NAEY has leases on 900 acres and plans to acquire an additional 1,400 acres within the next 90 days.
Its wells produce both oil and/or natural gas, with gas production coming primarily from the mulky coal seam. The company's primary goal is to acquire natural gas and oil properties that are relatively close to NAEY's Apwash pipeline of which it owns 75%. This pipeline will provide service to approximately 11,500 acres of potential leases that contain multiple zones of oil and CBM formations.
Elron Electronic Industries (Nasdaq: ELRN) Trading at $7.81, Up 68%. Announced Tuesday after market close that further to it previous announcement on July 28, 2009, Medingo Ltd., a group company held 92% by Elron and its subsidiary, RDC – Rafael Development Corporation Ltd., has received formal clearance from the Food and Drug Administration ("FDA"), to market its Solo™ MicroPump Insulin Delivery System in the United States.
Medingo intends to introduce the Solo™ MicroPump at the American Association of Diabetes Educators Meeting which will take place in August 2009 in Atlanta, U.S.A.
What They Do: Elron Electronic Industries, Ltd., through its subsidiaries, provides technologies primarily in the fields of medical devices, information and communications technology, semiconductors, and clean technology worldwide.
ViroPharma Incorporated (Nasdaq: VPHM) Trading at $8.01, Up 16%. Today announced its financial results for the second quarter ended June 30, 2009. Delivered record $82 million in net product sales including $26 million in net sales of Cinryze(TM) (C1 esterase Inhibitor [human]), of which $2 million was previously classified as deferred revenue. Grew adjusted net income 19 percent to $34 million for the 2009 second quarter compared to prior year period; GAAP net income reached $16 million.
Net sales were $81.9 million and $142.1 million for the three and six months ended June 30, 2009, respectively, as compared to $65.4 million and $116.4 million for Vancocin only in the comparative three and six month periods of 2008, respectively. This represents 25 percent growth in the three month period and 22 percent growth for the six month period in net product sales.
What They Do: ViroPharma Incorporated is a biopharmaceutical company dedicated to the development and commercialization of products that address serious diseases treated by physician specialists and in hospital settings.
Conseco (NYSE: CNO) Trading at $2.43, Up 27%. Announced Tuesday after market close preliminary results for second quarter of 2009. "Conseco, on a preliminary basis, and consistent with its first quarter performance, expects to report continued profitability in the second quarter," CEO Jim Prieur said. "Also consistent with our expectations was an increase in second quarter earnings over the seasonally weak first quarter by our Bankers Life business, which also had a 6 percent increase over 2008 in core sales for the quarter," Prieur said, adding that, "we are issuing preliminary results in an effort to provide timely information to the investment community."
What They Do: Conseco, Inc.'s insurance companies help protect working American families /and seniors from financial adversity: Medicare supplement, long-term care, cancer, critical illness and accident policies protect people against major unplanned expenses; annuities and life insurance products help people plan for their financial futures.
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