Globalstar, Inc. (Nasdaq:GSAT) reached up 31.43% in morning trading to $1.38 with 980K shares traded. Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial customers and recreational consumers in more than 120 countries around the world. The Company's products include mobile and fixed satellite telephones, simplex and duplex satellite data modems, the SPOT Satellite GPS Messenger and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications. Globalstar, Inc. (Nasdaq:GSAT) today announced that the International Bureau of the Federal Communications Commission (FCC) has granted Globalstar authority to operate its second-generation satellites within the United States. This authority will become effective once Globalstar completes registering the constellation with France, which is expected to occur in the near future.
Imperial Resources, Inc. (OTCBB: IPRC) reached up 21.15% in morning trading to $.63 with 200K shares traded. Imperial Resources, Inc., through its wholly owned subsidiary, Imperial Oil & Gas, Inc., has a highly focused, risk-averse strategy of building a substantial portfolio of oil and gas assets through its access to niche, low risk oil and gas opportunities in the onshore U.S. Imperial aims to exploit projects which can deliver cash flows normally associated with higher risk projects but without exposure to high risk failure rates. Imperial Resources, Inc. (OTCBB: IPRC) is pleased to announce that its wholly owned subsidiary, Imperial Oil & Gas, Inc. (together the "Company," "Imperial"), has conducted an evaluation and has obtained an independent reserve report on its Nunnelly #1 re-entry and wellbore deepening prospect located on a 35 acre mineral lease in Montague County, Texas .
Quest Oil Corp. (PINK: QOIL) reached up 16.67% in morning trading to $.0007 with 46M shares traded. Quest Oil Corporation is an independent oil and gas exploration company that seeks to acquire and develop economically attractive and geologically sound properties that have, in management's view, significant upside potential. Quest Oil Corporation is focused on the acquisition of properties that are currently in production, and on the development of new drilling opportunities. Quest Oil Corporation 's development strategy includes the implementation of state of the art technologies that are deployed to enhance and rework existing, highly predictable wells, within proven oil and gas plays. Quest Oil Corp. (Pink Sheets: QOIL) announced Friday afternoon that it is close to finalizing the acquisition of a 540 acre oil, gas and mineral lease located in Coleman County, Texas. Quest has initiated imaging on additional acreage adjacent to this lease.
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