Apr 19, 2006 (M2 PRESSWIRE via COMTEX News Network) --
Stocks in the News: Stonebridge Resources Exploration, Ltd. (OTC: SBRX), Lexington Resources, Inc. (OTC: LXRS), Greater Sooner Holding Inc. (OTC: GSNH), Peabody Energy Corp. (NYSE: BTU)
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Stonebridge Resources Exploration, Ltd. (OTC: SBRX) shares added 9.33% on Tuesday to finish up the day at $0.82 per share. On Monday, Stonebridge announced that it will sponsor a national gas giveaway contest aimed at generating brand awareness for the company among domestic general market and investor audiences. Dubbed the Stonebridge Resources ''Great Gas Giveaway,'' the contest will be supported by an aggressive radio campaign in key markets across the United States. Contest participants will be asked to register at www.thegascontest.com and guess the closing spot price of a barrel of light sweet crude oil on the New York Mercantile Exchange on May 31, 2006. One grand prize winner will receive free gas purchases for a year in the form of a U.S. $2,500 gas card. The participant who guesses the actual price correctly will be deemed the winner, and in the event no participant guesses said price, the participant who comes closest will be declared the winner. In the event of a tie, a drawing will be held and one grand prize winner will be announced. Entries must be received by Friday, May 19, 2006.
Full contest details are available at www.thegascontest.com.
Lexington Resources, Inc. (OTC: LXRS), has completed the field gathering testing phase of a 3D seismic program on its 1,211 contiguous acre Gilbert lease located in Palo Pinto County, Texas with TimeSlice Technology Inc. of Texas. The processing phase now begins to process geologic data on Barnett Shale gas and possible secondary gas targets on this lease with results due before month end. The Company's 100% working interest in the Gilbert lease can support up to 10 horizontal gas wells on 120 acre spacing, so the information obtained will aid in the development of engineering and geological planning for drilling operations and help lower risks associated with drilling.
Greater Sooner Holding Inc. (OTC: GSNH) shares skyrocketed 89.74% Tuesday to close at $0.74 per share, with more than 4.5 million shares traded. On Monday, Greater Sooner announced the appointment of Mr. Gilbert (Gil) Gertner as Advisor to Greater Sooner. With 60 years of business experience, Gil Gertner is a rare individual who has a rich history of successes in commercial real estate and corporate financial transactions world-wide. Among other business pursuits, Mr. Gertner has built, purchased, sold, financed and opened new hospitals, nursing homes, drug treatment facilities, hotels and apartment complexes throughout the U.S. He has founded, invested in and subsequently taken public several computer hardware and software companies. Of particular note, Mr. Gertner financed the Stuart James investment banking firm in the 1980s. Most recently, Mr. Gertner has been a private investor and consultant to several firms in the Houston area.
Peabody Energy Corp.'s (NYSE: BTU) stock surged 10 percent in Tuesday trading after the world's largest coal producer said first-quarter profit more than doubled on increased production and higher prices. Earnings increased to $130.2 million, or 48 cents per share, for the period ending March 31, the St. Louis-based company said. That was up 151 percent from last year when earnings were $51.9 million, or 19 cents per share. Revenue jumped 22 percent to $1.31 billion from $1.08 billion a year earlier. Analysts polled by Thomson Financial forecast per-share profit of 44 cents and revenue of $1.23 billion. Peabody's stock soared $5.39 to close at $56.75 on the New York Stock Exchange.
Tuesdays Close: Stocks soared Tuesday on news that Federal Reserve policymakers believed their run of interest rate hikes is likely nearing an end, propelling the Dow Jones industrials up nearly 200 points. The report helped offset the effects of oil prices that passed $71 a barrel. Wall Street was already climbing in mid-afternoon when the Fed released minutes of the Federal Open Market Committee's March 27-28 meeting that showed most of the panel's members "thought that the end of the tightening process was likely to be near, and some expressed concerns about the dangers of tightening too much, given the lags in the effects of policy." But the release of the minutes was just what an interest rate-weary market wanted to hear. The Fed has raised rates 15 times in a row since June 2004, putting the nation's benchmark rate at 4.75 percent.
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