--(www.USEquityNews.com)-- 06/20/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. Pengrowth Corporation, administrator of Pengrowth Energy Trust (NYSE: PGH), recently announced its July 15, 2008 cash distribution will be Cdn $0.225 per trust unit. The distribution is net of amounts withheld to partially finance capital expenditures. The ex-distribution date is June 26, 2008. The distribution will be payable to all Pengrowth unitholders who hold trust units on the record date of June 30, 2008. The distribution of Cdn $0.225 per trust unit is equivalent to approximately U.S. $0.221 per trust unit using a U.S./Canadian dollar exchange ratio of 0.9805. The actual U.S. dollar equivalent distribution will be based upon the actual U.S./Canadian exchange rate applied on the payment date, net of applicable Canadian withholding taxes.
Transocean Inc. (NYSE:RIG) recently announced that its ultra-deepwater semisubmersible GSF Development Driller II, capable of drilling in water depths of 7,500 feet, has been awarded a five-year contract extension, commencing in November 2008, by a subsidiary of BP PLC. Estimated contract revenues that could be generated over the five-year extension period are approximately $1.06 billion. Estimated contract revenues represent the maximum amount of revenues that may be earned in the contract period, excluding revenues for mobilization, demobilization and cost escalations.
Diamond I, Inc. (OTCBB: DMOI) announced that it has established www.USBiofuelsExchange.com (the "USBE"), a new Internet biofuels marketplace. The USBE is the brainchild of DMOI's newest director, Tom Gray. Mr. Gray has over 25 years' experience marketing biofuels, including 25 years of marketing ethanol, and has been marketing biodiesel since its market introduction. Mr. Gray is a past winner of the "Northern Colorado Entrepreneur of the Year." Also, Mr. Gray served the Colorado Wyoming Petroleum Marketers Association in various capacities, including Co-Chairman of the Board, President and Trustee.
Bill Barrett Corporation (NYSE: BBG) plans to release its first quarter financial and operating results before the market opens on Tuesday, August 5, 2008 and will host a conference call to discuss results at 12:00 p.m. EDT, also on August 5. It was previously announced that Chairman and Chief Executive Officer Fred Barrett will present at the Wachovia 18th Annual Nantucket Equity Conference on Wednesday, June 25, 2008. The date and time of the presentation has changed to Tuesday, June 24, 2008 at 1:30 p.m. EDT. This event will be webcast and the webcast may be accessed on the Company's website homepage, at www.billbarrettcorp.com, under "Current Events" and will be available live and for replay.
About U.S. Equity News
U.S. Equity News provides information, resources and news services for investors of small-cap, micro-cap and emerging companies. U.S. Equity News distributes RSS news feeds and a free subscription-based newsletter available through its website at www.usequitynews.com.
U.S. Equity News is a financial news distribution service by Equity Solutions, Inc. (www.equityirsolutions.com) that provides a platform for public companies to disseminate important news to key Wall Street interest such as shareholders and new investors. Equity Solutions, Inc. can assist by providing an effective increase in the awareness of a public company's news, development and corporate story through its proprietary network and its financial portal. U.S. Equity News and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.USEquityNews.com.
