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Utilities
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Written by Editor
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Friday, 12 March 2010 11:47 |
Emera to Acquire Maine & Maritimes Corporation
Maine & Maritimes Corporation (NYSE Amex: MAM) and Emera Inc. announced today that MAM has entered into a merger agreement with BHE Holdings Inc. of Bangor, ME (BHE), a subsidiary of Emera Inc. (EMA: TSX). Under the terms of the agreement, all outstanding shares of MAM common stock will be purchased for US$45.00 per share in cash, representing over a 40 percent premium based on MAM's closing share price on Thursday, March 11, 2010, the last trading day prior to the announcement of the proposed merger and MAM will become a wholly owned subsidiary of Emera.
The transaction has been approved by the MAM Board of Directors, and is expected to close later this year, subject to approval by MAM's shareholders and certain regulatory approvals, including the Maine Public Utilities Commission and the Federal Energy Regulatory Commission, as well as other customary closing conditions. Regulatory approvals are estimated to take 6-8 months. MAM shareholders will receive proxy materials soliciting their approval for the transaction.
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Energy
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Written by Editor
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Friday, 12 March 2010 11:33 |
ATP Announces Deepwater Development Update and Fourth Quarter and Annual 2009 Results
ATP Oil & Gas Corporation (NASDAQ: ATPG) today issued its annual 2009 results, a 376% reserve replacement ratio, and announced that its major deepwater Gulf of Mexico development, the Telemark Hub, is on schedule for first production later this month. At ATP’s other deepwater development, the Canyon Express Hub, the MC 217 #3 well was placed on initial production March 11, 2010 at 30 MMcf/d gross.
Telemark Hub Update
ATP’s major deepwater Gulf of Mexico development, the Telemark Hub, is on schedule to commence production during March 2010 from the Atwater Valley 63 # 4 well.
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Forex
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Written by Editor
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Friday, 12 March 2010 04:32 |
Friday Rant.
Let’s lead off with this ...
BEIJING, March 12 (Reuters) - The United States should not make a political issue out of the yuan, a Chinese central banker said on Friday, as the two countries lurched towards a potential bust-up over Beijing's currency regime.
The latest rhetorical salvoes underlined how long-running friction caused by the yuan's de facto dollar peg could come to a head next month when U.S. President Barack Obama's administration decides whether to brand China as a "currency manipulator".
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Forex
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Written by Editor
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Friday, 12 March 2010 11:27 |
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The equities market are still creeping up trying to get last January highs when Dow reached 10729 again keeping the pressure on the greenback to lose ground across the broad amid increasing on the investors' risk appetite containing the market sentiment but it is still building momentum at these levels tending to the upside. We have seen today an improving of US Trade balance of deficit of January to be just -37.29b$ while the market was waiting for-40.3 b$ and by god's will, we wait today for US retails sales of February to be up monthly excluding the auto sales by .2% and flat broadly with auto sales and US University of Michigan consuming sentiment preliminary reading to be 73.5 from 73.6 in February.
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Mining
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Written by Editor
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Thursday, 11 March 2010 10:52 |
Canadian Orebodies Samples Up to 3.66% Li20 and Other High Grade Lithium/Rare Metals
Canadian Orebodies Inc. (TSX VENTURE: CO) ("Orebodies") is pleased to announce assay results from grab samples taken from 5 of its Lithium/Rare Metals properties all located in Ontario. The properties are owned 100% by Orebodies (subject to a 2% NSR, 50% of which can be purchased by Orebodies for $1,000,000).
Highlights
- Grab H467577 on the Falcon Property assayed
- 2.82% Li20 , 1,820 ppm Rb , 153 ppm Be , 218 ppm Cs , 60.8 ppm Nb .41.2 ppm Ta
- Grab H467583 on the Despard Property assayed
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