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(OTCBB: BNTNF - Bontan Corporation Inc.)
LATEST NEWS!!
Bontan Announces Results of Independent Prospective Resource Evaluation for the Mira and Sarah Prospects, Offshore Israel
TORONTO, Feb 01, 2010 -- Bontan Corporation Inc. (Bontan) (OTCBB:BNTNF) is pleased to announce today the results of the Evaluation Report prepared by Chapman Petroleum Engineering Ltd. on two prospects located on the Mira and Sarah Drilling Licenses, Offshore Israel. The Prospective Resource Evaluation Report, effective January 1, 2010, was prepared in accordance with National Instrument 51-101, Section 5.9 standards for review and assessment of prospective resources For the Mira Prospect, the best estimate of gross prospective sales gas resources is 4.24 TCF and for the Sarah Prospect, the best estimate of gross prospective sales gas resources is 1.47 TCF. The following table provides best, low and high estimates of gross prospective sales gas resources for each prospect.
Gross Prospective Resources
Best Low High Estimate Estimate Estimate
TCF TCF TCF
Mira Prospect 4.24 3.03 5.45 Sarah Prospect 1.47 1.05 1.89
TCF is a trillion cubic feet of natural gas
The low estimate is considered to be a conservative estimate of the quantity that will actually be recovered while the high estimate is considered to be an optimistic estimate of the quantity that will actually be recovered. The best (or median) estimate is considered to be the most likely estimate of the quantity that will actually be recovered.
Bontan will have an indirect 71.625% indirect interest in these prospects via its 75% equity interest in the Israel Petroleum Company which has acquired a 95.5% interest in the drilling licenses as well as an adjoining exploration permit from the current operator subject to approval by the Government of Israel.
The Chapman report also provides an economic evaluation of Bontan's interest in both prospects assuming a successful ultimate recovery of these resources. For the Mira Prospect, using a discount rate of 10%, unrisked net present value ranges from $2.54 billion to $5.37 billion with an unrisked NPV of $3.96 billion as the most likely amount. For the Sarah Prospect, again using a discount rate of 10%, unrisked net present value ranges from $1.02 billion to $2.17 billion with an unrisked NPV of $1.59 billion as the most likely amount. A subsequent risk analysis of the economic evaluations using a probability of success calculated to be 30% for both prospects confirmed the feasibility of the drilling of these prospects.
All values presented do not necessarily infer the "fair market value" of these prospective resources. All monetary values presented are expressed in terms of US dollars.
In the cover letter of the Evaluation Report, Chapman Petroleum Engineering stated, "Based on our analysis, after consideration of risk, we have concluded that the potential of these prospects is of sufficient merit to justify the work program being proposed, and we therefore recommend and support the Company's participation." The Mira Prospect is a large structure mapped with 2D seismic and targeting the same reservoir zone as the Tamar Field discovered in 2009. The Tamar Field is approximately 30 miles directly to the north of the Mira Prospect with reported reserves of 7.7 TCF. The Sarah Prospect is another structure mapped with 2D seismic. It is on the same trend and targeting the same reservoir zone as the recent Dalit discovery well drilled in 2009, approximately 10 miles due north. Reported reserves for the Dalit Field are 0.5 TCF.
The Mira and Sarah Drilling Licenses are adjoining blocks located 30 to 60 miles offshore Israel within the Eastern Mediterranean Sea. They are each 154 sq. mi. in size and to date no exploratory drilling has been done on either block. A 3D seismic program was completed on the entirety of both blocks in late 2009 and is currently being processed for interpretation.
Kam Shah, CEO of Bontan, commented, "The Company is very pleased with the results of the Evaluation Report on these offshore Israeli prospects. This independent technical assessment confirms that these exploration blocks are indeed world class assets and completely justify the Company's investment of time and capital in this highly significant project. A review of global exploration discoveries in 2009 just published by the American Association of Petroleum Geologists also reported that the recent offshore Israel natural gas discoveries were among the most significant in the world. This independent technical report places the Company's prospects in the same geological setting as the 2009 offshore Israel discoveries. Our next step is the completion of the processing and interpretation of the 3D geophysical survey acquired over the Mira and Sarah drilling licenses. Firm drilling locations can then be selected on both prospects and application made to the Government of Israel to commence an exploratory drilling program." Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.
Chapman Petroleum Engineering Ltd., a Calgary based consulting firm, are Qualified Reserves Evaluators and Auditors. They have previously acted as technical advisors to the Government of Israel and have conducted similar resource evaluations in many petroleum basins around the world.
Bontan Corporation Inc. is a Canadian public company based in Toronto, Ontario which invests in international oil and gas exploration prospects. Bontan Corporation Inc. trades in the United States on the OTC Bulletin Board under the symbol BNTNF.
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(NASDAQ: ZAGG - Zagg, Inc.)
LATEST NEWS!!
iPad Protection Offered by ZAGG
InvisibleSHIELD Design Created for Apple's iPad
SALT LAKE CITY, Feb 02, 2010 -- ZAGG Inc. (NASDAQ: ZAGG), a leading producer of electronics accessories for protecting and enhancing the mobile experience, including the popular invisibleSHIELD(TM) and ZAGGaudio(TM) brands, has begun accepting invisibleSHIELD pre-orders for the Apple iPad. Announced today by Apple CEO Steve Jobs at an invitation-only conference, the iPad is a highly anticipated touch screen tablet computer. ZAGG will continue accepting pre-orders through the official launch date of the iPad.
The invisibleSHIELD is ZAGG's military-grade, virtually invisible, and indestructible film that protects thousands of gadgets from bumps, scratches, and dings with a lifetime guarantee. The invisibleSHIELD designs for Apple's iPhone and iPod lines are some of ZAGG's most popular products.
"Historically, ZAGG's accessories have sold well for Apple products," said Derek Smith, Vice President of Sales of ZAGG. "The invisibleSHIELD -- our flagship accessory -- will allow iPad users to protect their tablet computer without compromising the operation or appearance of the device." The invisibleSHIELD for the iPad is available as a pre-order on ZAGG.com.
"The invisibleSHIELD will be ideal for protecting and enhancing the iPad," said Robert G. Pedersen II, CEO and co-founder of ZAGG. "We expect the iPad to be another successful product for Apple, and our invisibleSHIELD is the perfect complement." For more information about ZAGG or any of their products, please visit ZAGG.com.
About ZAGG, Inc.: ZAGG is dedicated to protecting and enhancing the mobile experience. ZAGG designs, manufactures, and distributes protective clear coverings and accessories for consumer electronic and hand-held devices, worldwide under the brand names invisibleSHIELD(TM) and ZAGGaudio(TM). ZAGG has also introduced appSpace, a powerful recommendation engine for the fast-growing mobile app market, combined with the networking power of social media. The original invisibleSHIELD is a protective, high-tech patented film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices, and other items. The patent-pending invisibleSHIELD application of clear protective film covering a device is the first scratch protection solution of its kind on the market, and has sold millions of units. Currently, ZAGG offers over 4,000 precision pre-cut designs with a lifetime replacement warranty through ZAGG.com, major retailers like Best Buy, Radio Shack, and Cricket, resellers, college bookstores, Mac stores, mall kiosks, and other online retailers. The company continues to increase its product lines to offer additional electronic accessories and services to its tech-savvy customer base, including upcoming technologies like ZAGGbox(TM), introduced at CES 2010, and HzO(TM), a breakthrough gadget waterproofing technology. For more product or investor information, please visit the company's web site at www.ZAGG.com.
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(OTCBB: HSPO - HealthSport, Inc.)
LATEST NEWS!!
HealthSport, Inc. Announces Issuance of Mexican Patent
OXNARD, Calif., Feb 03, 2010 -- HealthSport, Inc. (OTC Bulletin Board: HSPO), the preeminent formulator and developer of edible, multi-layer film strips that deliver drug and dietary supplement actives through buccal and sublingual absorption as well as oral ingestion, announced today that the Mexican Institute of Industrial Property has approved HealthSport's patent application relating to its bi-layer edible film strip technology.
The patent issuance opens the door for sales and distribution into Mexico, and is expected to accelerate HealthSport's move into the international marketplace. The Mexican market for OTC drugs is larger than that of China and is a natural next step into international sales and distribution of HealthSport's products.
The issuance of the Mexican patent also strengthens HealthSports's commitment to develop products based on it's next-generation drug delivery technology.
"We have long recognized the unique value that our film strip technology can provide to consumers through a number of different products, and the recently issued Mexican patent reinforces this belief, further demonstrating the proprietary nature of our technology." HealthSport currently has seven additional patent applications pending in the U.S. and several other countries.
About HealthSport, Inc.
HealthSport, Inc. (www.healthsportinc.com) is a fully integrated developer, manufacturer and marketer of unique and proprietary branded and private label edible film strip nutritional supplement and over-the-counter drug products. HealthSport's wholly-owned subsidiary, InnoZen, Inc. (www.innozen.com), is the preeminent formulator, developer and manufacturer of edible film strips that deliver drug or dietary supplement actives through buccal (between the cheek and gum) absorption as well as normal ingestion. InnoZen's proprietary edible film strip delivery technology is superior to any other competitive, edible film strips currently available on the market. InnoZen has five patents pending and has developed numerous trade secrets which it incorporates in the development and manufacturing process of its edible film strip products.
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(OTCBB: SPBU - Spare Backup, Inc.)
LATEST NEWS!!
Spare Backup and The Carphone Warehouse Begin In-Store Launch of 'My Hub' Cloud Computing Digital Platform and Mobile Apps Store in the U.K.
"My Hub" now available in all U.K. stores
PALM DESERT, Calif., Feb 03, 2010 -- Spare Backup (OTC Bulletin Board: SPBU) today announced that the Company and The Carphone Warehouse, the U.K.'s leading independent mobile phone retailer, have begun the in-store launch of "My Hub" cloud computing digital platform and mobile apps store data backup platform to be given to every customer in all of The Carphone Warehouse stores throughout the U.K. The two companies reached an agreement in the fourth quarter of 2009 to build the platform for this robust cloud offering which creates an internet hub for data backup, retrieval and synchronization as well as an environment for securely sharing music, pictures and documents from anywhere in the world with anyone. The initially free "My Hub" offering coordinates all of a subscriber's data across all devices including PCs and mobile phones. It also ties in banking and app store capabilities providing intelligent marketing assistance tailored to each subscriber's individual needs. Subscribers can add more storage to their account at any point.
The launch marks the second phase of the rollout which began as an online test offering in early January. Under the terms of the agreement Spare Backup will provide the platform to The Carphone Warehouse customers and will be responsible for maintaining the integrity of the data and for the administration and operation of the platform, website and service delivery. Both companies will share in revenue derived from the offering on an a mutually beneficial undisclosed basis.
Spare Backup is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention. Commenting on the launch Cery Perle, CEO of Spare Backup, stated, "The in-store launch of 'My Hub' is pivotal for our company as we accelerate our growth in Europe. Both our team and the team at The Carphone Warehouse have worked tirelessly toward the goal of offering state of the art tools to unlock the true potential and help the customer get more out of their devices. Through 'My Hub' people are now free to work, collaborate, enjoy and share all aspects of their data from any place there is an internet connection and even more important on a wide variety of devices. Additionally, each user will have a personalized experience customized through intelligent software, providing targeted and unobtrusive marketing assistance. The Carphone Warehouse is the leading independent retailer of mobile devices servicing millions of customers each year and we are confident that this launch will result in strong subscriber growth a large recurring revenue stream for many years to come. We look forward to building on this launch and expanding our relationship with our valued partner, The Carphone Warehouse." For additional information, visit http://www.sparebackup.com. For investor relations, please contact our investor relations department at 760-779-0251 Ext. 224 or ir@sparebackup.com.
About Spare Backup, Inc.: Spare Backup, Inc. specializes in helping consumers, small office/home office users and small to mid-sized businesses protect their computer data quickly, automatically and cost-effectively. The company's flagship Spare Backup product is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention, automatically backing up documents, email, music, photos and other PC files on a continuous basis or according to the schedule of the user's choice. The company is headquartered in Palm Desert, California.
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(OTCBB: AYSI - Alloy Steel International, Inc.)
LATEST NEWS!!
Alloy Steel International Inc. Preliminary Profit Advice Quarter Ending 31/12/09
PERTH, AUSTRALIA, Feb 03, 2010 -- The Company (OTCBB: AYSI) is pleased to advise that the pre-tax operating profit for the trading quarter 1st October to 31 December 2009, is expected to be approximately USD 2.24million. This is an increase of USD 3,200,500 over the same quarter (loss USD 960,500) last year.
Gross Income for the period was USD 5,200,000 compared with USD 1,850,000 for the corresponding quarter last year; an increase of USD 3,350,000 or 181%.
The Company's chief executive Mr. Gene Kostecki said that this is an extremely good result for this particular quarter of the Company's fiscal year particularly when the December is always a short production month due to the Christmas vacation break when the plant shuts down for annual maintenance and implements equipment upgrade programs to minimize disruptions during peak production periods.
Alloy Steel International will lodge its 10Q Report with the SEC and to the media, giving complete detail of the quarter's operation prior to February 15th.
The Directors are extremely gratified about the prospects for the company in and beyond 2010 and in particularly Western Australia the Company's largest domestic market, where Alloy Steel is experiencing a boom in expansion programs for new mine construction and existing mining operations to meet increasing international demand for iron ore and other commodities with demand coming out of Chinese and Indian markets.
The with the recent release of the companies new premium thicker Arcoplate SuperAlloy product range, Alloy Steel is also seeing a significant increase in demand from international distributors and users compared with the last two years.
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(OTCBB: CUNB - California United Bank (Encino CA))
LATEST NEWS!!
California United Bank Regional Manager Joins Santa Clarita Valley Economic Development Corporation Board of Directors
ENCINO, Calif., Feb 03, 2010 -- California United Bank (OTCBB:CUNB) today announced that William Sloan, Senior Vice President and Santa Clarita Valley Regional Manager, has joined the Board of Directors of the nonprofit Santa Clarita Valley Economic Development Corporation ("SCVEDC").
"We are excited to welcome Bill to the Board, as we work together to further the economic interests of the Santa Clarita region," said William J. Kennedy, Chairman of the SCVEDC. "Bill brings extensive knowledge of the needs of the Santa Clarita Valley via his relationships with the region's business owners. That experience will help us tremendously as we define our vision for the organization and bring new business and employment opportunities to the Valley." Mr. Sloan is a long-time resident of Santa Clarita and is actively involved in the community, including as a member of the Board of Directors of the Henry Mayo Hospital Foundation in Newhall and the Boys and Girls Club. He is also a former director and treasurer of L.A. Family Housing. Mr. Sloan joined California United Bank in 2005 and has worked in the banking industry since 1983.
"As a local nonprofit organization, the SCVEDC has an important role to play in the region's development. CUB is proud to support that effort, both personally and through a financial pledge of $75,000," said David Rainer, Chairman, President and Chief Executive Officer of California United Bank. "Bill Sloan and the Bank are committed to seeing this community reach its full potential, and we look forward to partnering with other regional professionals to achieve that end." About Santa Clarita Valley Economic Development Corporation The nonprofit Santa Clarita Valley Economic Development Corporation was created in 2009 to encourage businesses to remain, locate and develop within the Santa Clarita Valley and to educate the public, laborers and business owners on the benefits of doing business in the region, particularly in the Economic Enterprise Zone. The SCVEDC also seeks to expand business and employment opportunities in the Valley through educational seminars, workshops and cooperation among local businesses.
About California United Bank California United Bank provides a full range of financial services, including credit and deposit products, cash management, and Internet banking for businesses and high net worth individuals. The Bank operates from its headquarters office at 15821 Ventura Boulevard, Suite 100, Encino, CA 91436; West Los Angeles Regional Office at 1640 South Sepulveda Boulevard, Suite 114, Los Angeles, CA 90025; Santa Clarita Valley Regional Office at 25350 Magic Mountain Parkway, Suite 100, Valencia, CA 91355; Conejo Valley Loan Production Office at 4333 Park Terrace Drive, Suite 215, Westlake Village, CA 91361 and South Bay Loan Production Office at 1025 W. 190th Street, Suite 225, Gardena, CA 90248. Information on products and services may be obtained by calling (818) 257-7700 or visiting the Bank's website at www.californiaunitedbank.com.
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