CONROE, Texas - October 7, 2010 (Investorideas.com energy stocks newswire) - Hemiwedge Industries, Inc. (OTCPK :HWEG), a global supplier of engineered valves focusing in oil/gas production, refining, mining, process, pipeline, power, mid-stream and petro-chemical markets, issued the following marketing and operations update of the Company's progress today. Since the Company's update release in July 2010, the Company has acquired six new customers domestically and internationally and continued to grow operations.

 

Revenues for the Third Quarter and Nine Months ending September 30, 2010

Unaudited revenues for the third quarter ending September 30, 2010 were approximately $946,000, or an increase of 201%, as compared to the third quarter 2009. Revenues for the first nine months ending September 30, 2010 were approximately $2.53 million, or an increase of 270%, compared to the first nine months ending September 2009.

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Robbins & Myers Signs Agreement to Acquire T-3 $422 Million Acquisition Creates Stronger Energy Platform for Global Growth; Expected to Be Accretive in First Full Year of Ownership

Robbins & Myers, Inc. (NYSE: RBN), a diversified industrial company supplying engineered equipment and systems for the global energy, industrial, chemical and pharmaceutical markets; and T-3 Energy Services, Inc. (Nasdaq: TTES) a provider of oilfield and pipeline products and services; jointly announced today that their respective boards of directors have unanimously approved an agreement for Robbins & Myers to acquire T-3 in a transaction valued at approximately $422 million, net of cash assumed.

Under the terms of the agreement, for each share of T-3 common stock, T-3 stockholders will receive 0.894 common shares of Robbins & Myers plus $7.95 in cash. Based on yesterday's closing prices, this represents a value of $31.80 per share of T-3 common stock and a premium of approximately 17% to T-3's closing share price as of October 5, 2010.

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Covenant Resources Ltd. Appoints Advisory Board

Covenant Resources Ltd. Appoints Advisory Board
Covenant Resources Ltd. (CVA - CNSX), Mr. Frank Port, President and CEO of Covenant Resources Ltd. (the "Company" or "Covenant")wishes to announce that the Company has appointed the following members to Covenant's advisory board to assist in the oil and gas operations and general corporate development of Covenant.

W. Milton Cox

Mr. Cox has 25 years of executive experience in resource investment management, corporate restructuring, finance, mining, and international oil and gas. From 1982 to present, he has been president and CEO of CodeAmerica Investments LLC, a multifarious mineral resource investment and management company with interests in mining and oil and gas production worldwide.

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Covenant Resources Ltd. Completes Permitting For First Two Wells in Montana

Covenant Resources Ltd. (CVA - CNSX), Mr. Frank Port, President and CEO of Covenant Resources Ltd. (the "Company" or "Covenant") wishes to announce that the operator (Robinson Oil Company, LLC) of the 41,500 net acre Sweetgrass Arch prospect located in Montana, has completed permitting of the first two wells to be drilled in this project, the Kinyon 14-2 and the Hellinger 15-2.

These wells will be drilled to total depth of 1950 feet and are targeting oil accumulations in the Madison Group as well as the underlying Bakken formation in Toole County, Montana. This will be the start of the exploration that Covenant undertakes on its recently acquired Alberta Basin properties in Montana (Sweetgrass Arch).

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Covenant Resources Ltd. Announces Private Placement

Covenant Resources Ltd. (CVA - CNSX),(the "Company")announces that it has negotiated a non-brokered private placement for a maximum of 2,500,000 units at a price of $0.20 per unit, for total gross proceeds of $500,000. Each unit is comprised of one (1) common share and one (1) share purchase warrant. Each warrant entitles the holder to purchase one (1) additional common share of the Company for a period of one year at a price of $0.30 per share. The private placement will be subject to regulatory approval. In addition, all securities will be subject to a hold period of four (4) months from the date they are issued. The private placement will be subject to a finder's fee of 6% cash fee and 6% broker warrants.

It is anticipated that the funds from the private placement will be used for exploration on the Company's recently acquired Alberta Basin properties in Montana (Sweetgrass Arch).

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