--(www.USEquityNews.com)-- 07/02/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. NGAS Resources, Inc. (NASDAQ: NGAS) recently announced that William S. Daugherty, President and CEO, will present at the Collins Stewart 4th Annual Growth Conference taking place in New York City from July 8 - 10, 2008. Mr. Daugherty will be presenting at 3:30 p.m. (Eastern) on July 8, 2008. During his presentation, Mr. Daugherty plans to discuss NGAS and its natural gas opportunities in the Appalachian Basin as well as provide a general business update. Mr. Daugherty's presentation and accompanying slides will be webcast and can be accessed from the Company's website at www.ngas.com or by cutting and pasting the following link into your browser: http://www.wsw.com/webcast/clst/ngas/. The webcast will be archived for 30 days.
Unit Corporation (NYSE: UNT) recently announced that its Board of Directors has increased the company's 2008 capital expenditures budget from $512 million to $692 million, a 35% increase. This budget, which does not include amounts for potential acquisitions, is attributable to the company's operating segments as follows: Exploration and Production: $470 million, an increase of 31% from $360 million; Contract Drilling: $173 million, up 45% from $119 million; and Mid-Stream: $48 million, up 50% from $32 million. The company's drilling segment currently owns 131 drilling rigs, having recently added two drilling rigs with one in May and one in June.
Cano Petroleum, Inc. (AMEX: CFW) announced recently that it has completed the sale of 7,000,000 shares of its common stock through a firm commitment underwritten offering at a public offering price of $8.00 per share resulting in net proceeds of approximately $54 million after underwriting discounts and commissions and estimated expenses. Canaccord Adams, Inc. and Canaccord Capital Corporation, the underwriters, will have an option to purchase up to an additional 1,050,000 shares from the company to cover any over-allotments. Cano Petroleum intends to use the net proceeds from the offering for general corporate purposes and to initially pay down its debt which will subsequently be drawn down in order to finance (i) its existing development activities in certain core areas such as the Panhandle and Cato properties and (ii) selective bolt-on acquisitions of additional properties in its core areas.
Holloman Energy Corporation (OTCBB: HENC) (``the Company'' or ``HENC''), through its Chairman, Mark Stevenson, is pleased to announce that John Crosby has agreed to join the Holloman Energy team. As can be seen from the short bio below, he is a perfect match for Holloman Energy Corp. ``Holloman's invitation to join its talented International team to assist in its focus on Australia comes at a time when oil and gas issues are vital and interest is high in its large and well placed acreage portfolio. Thus the invitation to assist in guiding them in my Country is enthusiastically accepted,'' said Crosby. For a full report visit www.stocksjournal.com
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