July 2nd

Tengasco Announces of Closing of Kansas Oil Purchase From Black Diamond Oil

Tengasco, Inc. (AMEX:TGC - News) today closed the previously announced purchase by the Company from Black Diamond Oil, Inc. of an expected 80 barrels per day of oil producing properties and related leases and equipment in Rooks County, Kansas for $5.35 million effective as of July 1, 2008. The Company has acquired producing oil wells and saltwater disposal wells, equipment, and the underlying working interests in leases comprising what is known as the Riffe field that had been owned by Black Diamond for many years. The purchase price was paid primarily from borrowings under its credit facility with Sovereign Bank and from company cash on hand. Following the purchase, the Company has borrowed a total of $10.0 million under the facility.
Published: 02 July 2008
Written by Editor
Read more: Tengasco Inc ( TGC )

July 2nd

Energy Recovery, Inc. Prices Initial Public Offering

Energy Recovery, Inc. (“ERI”) (NASDAQ: ERII) today announced the pricing of its initial public offering of 14,000,000 shares of its common stock at $8.50 per share. Of these shares, 8,078,566 are being sold by ERI and 5,921,434 are being sold by selling stockholders. In addition, ERI has granted the underwriters a 30-day option to purchase an additional 2,100,000 shares of common stock.

ERI intends to use the net proceeds from the offering for working capital and other general corporate purposes, including to finance its growth, develop new products and fund capital expenditures.
Published: 02 July 2008
Written by Editor
Read more: Energy Recovery Inc ( ERII )

July 2nd

Tang Capital Partners, LP Announces Proposal to Acquire Northstar Neuroscience, Inc.

Tang Capital Partners, LP today announced that it has made a proposal to acquire Northstar Neuroscience, Inc. (NASDAQ: NSTR) in a negotiated transaction for a price of $2.25 per share in cash. The text of the letter sent to the Northstar Board of Directors making such proposal follows.
Published: 02 July 2008
Written by Editor
Read more: Northstar Neuroscience Inc ( NSTR )

July 2nd

Bayer HealthCare and Maxygen Announce Hematology Agreement

Bayer HealthCare is expanding its commitment to hemophilia with the acquisition of Maxygen’s (Nasdaq: MAXY) hemophilia program assets, including a next-generation recombinant Factor VIIa protein known as MAXY-VII. The lead therapeutic candidate is expected to enter Phase 1 clinical testing in the third quarter of 2008. The total transaction is valued at $90 million upfront with a final, potential milestone payment of $30 million. This agreement includes a license to use Maxygen’s MolecularBreeding™ technology, a novel research platform, for exploiting gene targets.

Hemophilia is an inherited bleeding disorder caused by deficient or defective blood coagulation proteins. Roughly 20 to 30 percent of patients with hemophilia develop antibodies – or inhibitors – to current therapies. In these instances a Factor VIIa is used to bypass inhibitors and help these individuals to form clots.
Published: 02 July 2008
Written by Editor
Read more: Maxygen ( MAXY )

July 2nd

QLSC moves to the OTC - BB

QualSec (QLSC) a developer of nano-nose substance detection devices has jumped from the PK to OTC.BB. The stock has held steady over the last few challenging trading days which seems to show some underlying strength.

Additionally, the company is speaking with Department of Defense regarding Autonomous Airborne Chemical/Biological Cloud Detection Sensors.

As we move through this market capitulation they will be a company to consider. As always do you due diligence.
Published: 02 July 2008
Written by dchong5342
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