TMCnet News
OTCtipReporter.com: Stellar Business Bank (OTCBB: SLRB), Delta Oil and Gas, Inc. (OTCBB: DLTA), Glowpoint, Inc. (OTCBB: GLOW): Sign up for our FREE Stock Picks Today!Sep 01, 2011 (M2 PRESSWIRE via COMTEX) -- Join us at www.OTCtipReporter.com for a complimentary subscription to the most exciting online financial newsletter. ___________________________________________________________________________ Find out the Buzz on all the Hottest stocks at: http://www.OTCtipReporter.com Stellar Business Bank Announces SBA Preferred Lender Status COVINA, Calif.--831-2011-- Stellar Business Bank (OTCBB: SLRB) has been approved for theU.S. Small Business Administration (SBA) Preferred Lenders Program, which is the top designation approved by the SBA. The Preferred Lenders Program (PLP) status provides high-volume SBA lenders, such as Stellar Business Bank, with the ability to simplify and expedite the SBA loan approval process. Lenders are carefully selected for PLP status, which is based on SBA lending performance, volume and a thorough understanding of SBA policies and procedures. "SBA loans are an extremely valuable solution for our business customers," stated Timothy P. Walbridge, President and Chief Executive Officer. "There is an extraordinary need for business credit and as a PLP lender, Stellar Business Bank will be able to facilitate SBA loans in a manner that expands our service abilities. Our Senior Vice President and SBA Loan Manager, Alden Macabales, has more than 25 years of commercial lending experience and is among the most highly regarded SBA lenders in California. Combining Alden's expertise with the Bank's PLP status clearly makes Stellar a distinctive choice for commercial loan solutions." For more information about Stellar Business Bank's commercial SBA loan programs, please contact Alden Macabales at 626-214-1762 or [email protected]. The statements contained in this release that are not historical facts are forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects on the Bank. The forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and readers are cautioned not to unduly rely on such forward-looking statements. Actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Factors that might cause such differences include, but are not limited to, the health of the national and California economies, the Bank's ability to attract and retain skilled employees, competition in the financial services market for both deposits and loans, the Bank's ability to increase its customer base, and customers' service expectations, the Bank's ability to successfully deploy new technology, changes in interest rates, loan portfolio performance, the Bank's ability to secure buyers for foreclosed properties, and the Bank's ability to enhance its earnings capacity. MEMBERFDIC ___________________________________________________________________________ Delta Oil & Gas, Inc. Achieves Stabilized Production on Donner #2 Well in Texas Prospect VANCOUVER, British Columbia--8-31-2011-- Delta Oil and Gas, Inc. (OTCBB: DLTA) is pleased to report that its most recently drilled Donner #2 well in its Texas Prospect has been steadily producing from the Lower Hackberry Zone at the average rate of 25 barrels of oil per day ("bopd") on a 4/64" choke. Consideration is now being given to increasing the size of the choke to maximize daily production at levels similar to the Donner #1. Consideration is also being given to the potential of drilling an offset well to give concurrent access to the natural gas zone located from approximately 7,294 to 7,302 feet. As previously reported, the Donner #2 was spud on June 28, 2011 and a total depth of 7,550 feet was achieved on July 8, 2011. A suite of logs was run to total depth and five zones were identified as potentially capable of producing hydrocarbons. Based on the initial data, Delta and its partners decided to set production casing to 7,500 feet. The well was perforated in the Lower Hackberry and currently, all production is from this zone. The Company's geologists and reservoir Engineers see the likelihood of successful completions in multiple zones within this well bore. Initial tests of the first zone were completed and the well flowed oil at the approximate rate of 48 barrels per day with trace water on a 5/64 inch choke. Immediately following the test period, the well was shut in, in order to install a new battery facility. Once the well was shut in, the shut in tubing pressure at surface exceeded 1000 psi. Delta anticipates being able to perforate up to 4 additional pay zones once the initial zone is depleted. Delta will be evaluating the production rates and the Company has instructed it's Consultants to set locations for at least one additional well based on the 3-D Seismic and the success of Donner #1 and #2. The Texas prospect contemplates the drilling of a total of three wells in the Newton County area. The Donner #1 which was drilled to a total depth of 7,600 feet on June 4, 2010 continues to flow oil at the approximate rate of 45 bopd of very high quality 42 API oil. Delta owns a 40% gross working interest in the wells covered by this drilling program and at present, has fully paid the drilling and completion costs associated with the Donner #1 and Donner #2. About Delta Oil and Gas Delta Oil is an exploration company focused on developing North American oil and natural gas reserves. Delta Oil's current focus is on the exploration of its land portfolio comprised of working interests in acreage in King City, California; Southern Saskatchewan, Canada; Newton County, Texas, and South Central, Oklahoma. As a result of its acquisition of a controlling interest in The Stallion Group, a Nevada corporation, it expanded its property interests to include acreage in the North Sacramento Valley, California. On behalf of the Board of Directors, DOUGLAS N. BOLEN, President Safe Harbor Statement: Statements in this press release which are not purely historical, including statements regarding Delta Oil's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that the Company's actual results could differ materially from those in any such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the company's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended December 31, 2010 and the quarterly reports on Form 10-Q filed subsequently. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Delta Oil & Gas, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release. ___________________________________________________________________________ Glowpoint Announces Enhanced Cloud Managed Video Services for Cisco Customers Enhanced services delivered via OpenVideo(TM) architecture, provide customers with expanded interoperability and wider support for desktop video solutions including Microsoft® Lync(TM) MURRAY HILL, N.J., Aug. 30, 2011 -- Glowpoint, Inc. (OTCBB: GLOW), a leading global provider of cloud managed video services, today announced three new key enhancements to its cloud managed video services portfolio for Cisco telepresence customers. All of the new enhancements are available as a fully hosted cloud service from Glowpoint. The enhanced services include: o Hosted Cisco telepresence infrastructure including the Cisco TelePresence Video Communications Server (VCS), Cisco TelePresence Video Communications Expressway, Cisco TelePresence Server MSE 8710 and Cisco TelePresence Movi for mobile telepresence o Enhanced telepresence interoperability with support for the Telepresence Interoperability Protocol (TIP) o Managed unified communications (UC) gateway solution based on the Cisco TelePresence Video Communications Server CONTACT: Penny Stock Scholar Tel: +1 347 829 7044 e-mail: [email protected] WWW: http://www.PennyStockScholar.com ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [email protected]. |