--(www.USEquityNews.com)-- 08/28/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. Compton Petroleum Corporation (NYSE: CMZ) previously announced a process to seek a buyer for all of the outstanding shares of the Company. In conjunction with this process, the Company has completed an update to its December 31, 2007 Reserve Report as at August 1, 2008 (Reserve Update). The parameters applied to the preparation of this Reserve Update as well as the summaries thereof are presented in this News Release. Additionally, this News Release includes June 30, 2008 proforma debt information reflecting certain transactions since that date and a review of recent field activities. Concurrent with this News Release, marketing efforts to conclude a corporate sale will commence. Interested parties are currently being invited to enter into a confidentiality agreement with the Company prior to accessing the Data Room which will open on September 8, 2008.
Stone Energy Corporation ("Stone") (NYSE: SGY) and Bois d'Arc Energy, Inc. ("Bois d'Arc") recently reported that the Stone stockholders have voted to approve the issuance of additional shares of Stone common stock pursuant to the previously announced merger agreement pursuant to which Stone will acquire Bois d'Arc and that the Bois d' Arc stockholders have voted to approve the merger agreement. Under the terms of the merger agreement, Bois d'Arc stockholders will receive $13.65 per share in cash and 0.165 shares of Stone common stock for each share of Bois d'Arc common stock. Stone reported that 82.6% of its stockholders were represented at the special meeting called to consider approval of issuance of additional shares of Stone common stock pursuant to the merger agreement.
Bois d'Arc Energy, Inc. ("Bois d'Arc") (NYSE: BDE) and Stone Energy Corporation ("Stone") recently reported that their respective stockholders have voted to approve the previously announced merger in which Stone will acquire Bois d'Arc. Under the terms of the merger agreement, Bois d'Arc stockholders are receiving $13.65 in cash per share and 0.165 shares of Stone common stock for each share of Bois d'Arc common stock. Bois d'Arc reported that 92.1% of its stockholders were represented at the special meeting called to vote upon the proposed merger. 99.7% of the shares represented at the meeting voted in favor of the transaction. Stone reported that 82.6% of its stockholders were represented at the special meeting called to vote upon the proposed merger. 97.3% of the shares represented at the Stone meeting voted in favor of the transaction. The transaction is expected to close on August 28, 2008.
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."
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.
