OTCPicks.com Daily Market Movers Digest Midday Report for December 3rd UVSE, AMRA, INBG, CTVWF, BWNR

Our Stocks to Watch today include Universal Energy Corp. (OTCBB: UVSE), American Racing Capital (OTCBB: AMRA), International Building Technologies Group, Inc. (OTCBB: INBG), CityView (OTCBB: CTVWF), Brownstone Resources Inc. (OTC: BWNR)

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UNIVERSAL ENERGY CORP (OTCBB: UVSE)

Detailed Quote: http://www.otcpicks.com/quotes/UVSE.php

Company Profile:

http://www.otcpicks.com/universal-energy/universal-energy.htm

Universal Energy Corp. is an energy company engaged in the acquisition and development of crude oil and natural gas leases in the United States and Canada. We pursue oil and gas prospects in partnership with oil and gas companies with exploration, development and production expertise. Our prospect areas consist of lands in Alberta, Canada, Louisiana and Texas. Visit www.universalenergycorp.info for more details.

UVSE News:

December 3 - Universal Energy Corp. Closes $1.743 Million Financing to Support Production Activities

Universal Energy Corp. (OTCBB: UVSE), an emerging oil and gas exploration and production company, announced that it has completed the sale of $1.743 million principal amount of unsecured convertible debentures. The issuance of the debentures generated net proceeds of approximately $1.26 million. The Company will use the proceeds of the offering towards production costs including those costs associated with the recently successful drilling efforts at the company's Lake Campo and Caviar # 4 prospects.

Investment banking services were provided by the San Francisco office of Empire Financial Holdings.

Dyron M. Watford, Chairman and CFO of Universal Energy Corp. remarked, "This financing provides us the additional capital we need to complete the production and tie-in of our first four successfully drilled prospects. We believe that the financing represents a continued recognition of the execution on our business plan."

Additional details regarding the financing will be included in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.

AMERICAN RACING CAPITAL (OTCBB: AMRA)

"Up 34.78% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/AMRA.php

American Racing Capital, Inc. is a company specializing in Motorsports and its strategy is to focus on several aspects of this industry. Through it’s subsidiaries, American Racing Capital intends to; Acquire financial interests in several auto-racing facilities, Establish race management contracts at both existing and newly proposed racing facilities, Engage in the design, re-design, development and management of our wholly owned race tracks, Find and acquire motorsports companies to compliment our other holdings. The Company’s business also includes motorsports sponsorship services that are highly specialized promotional services in this industry. These programs entail introducing companies to multiple levels of race team and racetrack sponsorship activities. American Racing Capital’s mission is also helping companies develop and build brand reputation using motorsports as a revenue-generating opportunity. For more information, visit www.americanracingcapital.com.

AMRA News:

December 3 - American Racing Capital, Inc. / AMRA Adds a Second Industry Veteran to Board of Advisors

American Racing Capital (OTCBB: AMRA), a company specializing in the Motorsports Industry, announced it has named Mark J. Perrone to it’s Advisory Board. Mr. Perrone is well known in racing circles having most recently been President and General Manager of the legendary Milwaukee Mile, the oldest continually operating Speedway in the world.

His professional career started right after graduating from Denver University, when he began a career with the Federal Bureau of Investigation. Later, Mark moved on to professional sports management and worked for the Washington Capitals and the Washington Bullets franchises. He then moved up to major league sports with a senior position at Bob Woolf Associates where he established relationships in the NFL, MLB, NBA, and the NHL.

Next, he became President of Sportserve, Inc., where he handled Hall of Fame and All-Pro inductees. Also, he consulted to groups interested in the acquisition of major league teams, as well as franchise expansion opportunities. His clients included the Portland Trailblazers, New York Yankees, Boston Red Sox, Duke University and the NHL League office. He also served in an administrative capacity for USA Hockey during the 1980 and 1984 Olympics.

Mark’s career in motorsports includes having been the Executive Director of racing for the “Cracker Barrel 500” held at Atlanta Motor Speedway. Mr. Perrone has successfully promoted NASCAR events in all levels, including Cup, Bush and Craftsman Truck as well as other race series such as the Indy Racing League and ChampCar, even serving as Vice President of ChampCar. Mr. Perrone is also an active member of society with numerous charity and civic associations and has been awarded two Gubernatorial Citations and two Senate Citations.

Bob Koveleski, President of American Racing Capital said, “Mark has an intimate knowledge of all aspects and components of the racing business. We are extremely pleased to be working with a person with his qualifications and experience. I have a very strong feeling he will be a real compliment to our Advisory Board. As we move forward building a stronger Company, these kind of quality people only strengthens our position and our future success.”

INTERNATIONAL BUILDINGS TECHNOLOGIES GROUP (OTCBB: INBG)

"Up 25.00% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/INBG.php

International Building Technologies Group, Inc. engages in the manufacture and sale of building panels used in construction worldwide. It also provides site planning, architectural and engineering services, contractor services, materials, equipment, training, and supervision. The company is based in Alameda, California.

INBG News:

November 29 - International Building Technologies Group, Inc. Announces 3rd Quarter Financials and $350,000 Reduction in Expenses

International Building Technologies Group, Inc. (OTCBB: INBG) announced that the Company has filed its 3rd quarter financials for 2007.

In the 10QSB for the nine months ended September 30, 2007, the expense labeled "due to the change in fair value of Derivative Liability" was removed from the financials due to the adoption of FAS 150. This accounting change resulted in the removal of approximately $351,817 of expenses that was reflected in the second quarter financials ended June 30, 2007. These expenses were related to new debts the company acquired during the year. We believe that the treatment under FAS 150, among the diversity in accounting treatments that exist, is more appropriate and more accurately reflects the Company's position.

The Company also provided the following updates: IBT Management visited Suijiang, China in November 2007 to meet with Chinese government officials on the planned factory for the production of IBT building panel. A primary purpose of the visit was to negotiate a land deal in Suijiang, China for the factory so that production can begin as soon as possible. IBT signed a Memorandum with Suijiang County Government to build a factory in this area which would supply building materials for the construction of a new town for 50,000 residents of Suijiang. IBT will be to exclusively supply panels to the project which is expected to take five years to complete. Many residents in the Suijiang area are being displaced by the flooding created by the construction of the Xiangjiabar Hydroelectric Power Station, the fourth largest hydroelectric dam in the world.

The Rose Best residential complex project in Suining, Sichuan Province of China has neared completion on the foundations of the 50,000 square meter residential complex. IBT acquired a 51% stake in the Rose Best Project on July 8, 2007. Once the foundation is complete, the project is expected to bring revenue to the company as early as the 1st quarter of 2008. For further information on the Rose-Best Project, please visit www.suiningyinfa-ce.com at Rose Best Project II.

CITYVIEW CORPORATION LTD (OTCBB: CTVWF)

"Up 13.64% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/CTVWF.php

City View Corporation Ltd. is an exploration and development company. It is managements' objective to grow CityView into a significant uranium, beryllium, oil and gas project by developing its interest in Angola. The company trades on the OTCBB market under the symbol "CTVWF" and on the Australian Exchange under the symbol "CVI". For more information please visit the company's web site at www.cityviewcorp.com.

CTVWF News:

December 3 - CityView Complets it's Feasibility Study on MATANDA - PH72

CityView (OTCBB: CTVWF) (ASX: CVI) (FRANKFURT: C4Z) announced that the preliminary feasibility study headed by Mr Conrad Maher has now concluded and as a result of the positive findings, CityView has agreed to move ahead with its acquisition of the Matanda Oil and Gas fields by taking over Petro Energy Africa Limited.

CityView, through vigorous negotiations, has succeeded in renegotiating the price for the takeover of Petro Energy Africa Limited, the owner of 57% of Turnberry Resources Inc.

Under the original terms the purchase price was US$4.5 million and US$15 million worth of CityView shares. The agreed new price will be reduced to $4.5 million payable upon execution of the definitive agreements and an allotment of 40 million shares (equivalent to approx. Aus$10 million) subject to Shareholder approval. Definitive agreements are being prepared to complete the transaction.

The feasibility study commissioned by CityView has concluded that the work program should be:

(i) Carry out 2D seismic acquisition and processing and interpretation.

(ii) Drill one extended reach well from nearby Koo to the two discovery wells NM 1X and NM 2X. The well will be tested at two locations and completion with shut-off capability will be incorporated.

(iii) Construct a 100MW modular power plant at Koo and transmission line to connect the plant to the grid of the nearby city Douala.

(iv) Lease a barge for storage of the condensate.

(v) Commence production and commission the power plant.

(vi) Evaluate the other undrilled prospects in PH72.

Conclusion of the Matanda agreements will trigger negotiations for the adjoining permit in the Niger Delta.

Go to http://www.cityviewcorp.com/recentframe.html to see a map of the Mantada - PH72.

BROWNSTONE RESOURCES (OTC: BWNR)

"Up 19.13% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/BWNR.php

Brownstone Resources Inc., is a junior mineral resource exploration company involved in the exploration and development of potentially mineral rich properties in both North and South America. The efforts of the Company are focused on the development of our existing mining claims, added shareholder value through acquisitions, and continuous and ongoing exploration for new resources in select prominent mining regions. Brownstones management team, made up of geologists, mining executives and industry professionals, are working to put together an attractive group of holdings, with a focus on gold and uranium. We have developed an aggressive exploration program for our Iron Bridge Uranium project, located in the Nouvel Township, Northern Ontario, Canada. Our long term goals are to create maximum shareholder value by continuing to build a strong base of properties. The company has not yet determined whether its properties contain ore reserves that are economically recoverable.

BWNR News:

December 3 - Brownstone's Arizona Gold Project Announces Signing Letter of Intent

Brownstone Resources Inc. (OTC: BWNR) announced 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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