--(www.USEquityNews.com)-- 07/16/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. NATCO Group Inc. (NYSE: NTG) held a ground-breaking ceremony to announce the construction of a new world-class Research and Development (R&D) Center to be built at 4901 North Sam Houston Parkway, Houston, Texas. The facility is being relocated from Tulsa, Oklahoma, and is designed to meet the needs of customers and to enhance process solution services. The planned 30,000-square-foot facility essentially triples the size of NATCO's current R & D operations allowing additional space for large-scale pilot plants, technology developments, computer and scale modeling, and laboratory services. The new center also will include space to showcase technologies using working demonstration models and computer animations, as well as state-of-the-art training and presentation facilities.
ENSCO International Incorporated (NYSE: ESV) announced recently that its Contract Status of Offshore Rig Fleet Report has been updated as of July 15, 2008. The Report is available on the Company's website at http://www.enscous.com and can be accessed from the home page by clicking on "Rig Contract Status." The Report also can be accessed through the SEC EDGAR System. The Company updates and files the Report with the SEC on Form 8-K on or about the 15th of each month.
Approach Resources Inc. (NASDAQ: AREX) (``Approach'' or the ``Company'') recently announced that the operator and non-operating participants in the Company's British Columbia lease acquisition and drilling project have engaged Tristone Capital Inc. to explore the sale of the project's oil and gas interests in northeast British Columbia. The project covers 29,954 (gross) and 28,309 (net) acres in the Monias/Charlie Lake areas. The project primarily targets Montney tight gas and Doig phosphate shale formations. Approach holds a 25% non-operating interest in the project. Approach Resources Inc. is an independent energy company engaged in the exploration, development, production and acquisition of unconventional natural gas and oil properties in the United States.
Diamond I, Inc. (OTCBB: DMOI), a reporting company trading on the OTCBB that is to change its name to "US BioFuels Exchange, Inc.," announced recently that it has obtained the first round of funding for its online biofuels exchange, USBiofuelsExhange.com (the "US-BX"). This first funding was obtained from a group of investors, including petroleum and biofuels marketing veterans and petroleum and biofuels marketing companies. This funding assures the launch of the US-BX. "This type of industry support certainly bolsters our belief that the time for the US-BX is now," said Tom Gray, DMOI's newest director. "We are excited with the building momentum and look forward to announcing more developments in this important project."
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