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Liberty Coal Energy (OTCBB: LBTG) $1.08. Today announced that is pleased to provide the following corporate and activity update. Ranchester Wyoming Coal Project.
Liberty Coal is currently permitting the 2011 drill program on its Northern Wyoming coal project. Liberty expects this drilling to commence in early summer when the field conditions are appropriate for equipment access.
The Ranchester property is a 1200 plus acre leased parcel north of Sheridan, Wyoming, and extends to the Montana border. Early indications show the project area to have as much as 50 million tons of contained coal. The majority of it is expected to be open pit mineable. Liberty recognizes that underground mining can be as economically feasible as surface mining in some instances. Drill evaluation can provide the data for this decision on the Ranchester project.
The United States coal deposits contain more energy than all the world's oil reserves. Coal is an economic, plentiful and environmentally sound fuel source. As the most abundant fossil fuel produced in the United States, coal contributes to generating about 50 percent of the nation’s electricity. This inexpensive electricity generated by coal results in lower operating costs for businesses and homeowners, helping to boost the economy and increase coal's competitiveness in the marketplace.
Coal will continue to be an important source of electricity generation as oil and natural gas prices continue to rise. Currently, coal has the lowest energy costs per million British thermal units (BTUs), while crude oil and natural gas cost four times the amount.
Increased Geographic Focus: Liberty’s geographical area of interest is being broadened to include Appalachia and eastern coal deposits in addition to its existing interests in the Powder River Basin and Rocky Mountain areas. Secondly, study of the advantages of smaller projects that shows early revenues and production can be more rapidly achieved on smaller deposits in historic eastern coal producing areas.
Ed Morrow, President and CEO of Liberty Coal said, “The expanded area of interest is based on two major factors; our belief that Coal will be the prime fuel for electricity generation for decades to come. This is emphasized by the disaster caused by the recent earthquake and tsunami damage to a significant portion of Japan’s electric infrastructure. This terrible chain of events will have a chilling effect on nuclear development for years to come.”
Liberty is also building an advisory board of industry veterans, whose experience and contacts will aid the growth of the Company.
What They Do: Liberty Coal Energy is an energy resource development and production company with existing projects based in the Powder River Basin in north central Wyoming. The Company is building the foundation for success in the United States' most active thermal coal mining region. The Company is committed to creating value for its shareholders by maintaining the highest environmental standards to produce clean coal for the nation's energy needs.
Cintas Corporation (Nasdaq: CTAS) $22.21. Today announced its results for the third quarter of its fiscal year 2011. Revenue for the quarter, which ended February 28, 2011, was $937.8 million, representing an 8.8% increase compared to last year's third quarter. Net income increased 20.6% to $59.1 million as compared to $49.0 million in last year's third quarter. Earnings per diluted share for the third quarter were $0.41, a 28.1% increase over the $0.32 earnings per diluted share reported in last year's third quarter.
Scott D. Farmer, Chief Executive Officer, stated, "Our revenue momentum of the past several quarters continued throughout our third quarter, propelled largely by improvements in sales productivity and customer retention. Our organic growth rate, which adjusts for the impact of acquisitions, was 5.5%, up sequentially from 4.2% and 2.8% in this year's second and first quarters, respectively."
What They Do: Cintas Corporation provides highly specialized services to businesses of all types primarily throughout North America.
Miller Petroleum (Nasdaq: MILL) $5.12. today announced its results for its fiscal third quarter and nine months ended January 31, 2011. Miller Energy reported third quarter revenues grew to $7.8 million and net income was $909,950, or $0.02 per diluted share.
Miller Energy’s total revenues for its fiscal third quarter ended January 31, 2011 rose significantly to $7.8 million compared with $1.2 million in the third quarter of the prior year. The primary factor in this increase was the amount of new oil and gas that came online in Alaska over the past year combined with an increase in the price of oil. At January 31, 2011, oil was priced at $90.99 per barrel, up 24.9% from $72.85 in January of 2010.
For the third quarter, Miller Energy’s net income was $909,950, or $0.02 per share. In the prior year comparable quarter, Miller Energy reported net income of $272 million, or net income per diluted share of $9.51. The prior year’s results included a $472.5 million gain on the acquisition of our Alaska operations.
What They Do: Miller Energy Resources is a high growth oil and natural gas exploration, production and drilling company operating in multiple exploration and production basis in North America.
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