Winston-Salem, NC -- (SBWIRE) -- 12/17/2013 -- SmallCapReview.com has been a leading site for information on Small Cap Stocks, Penny Stocks and Microcaps since 1999. Visit http://SmallCapReview.com to sign up for our FREE newsletter.
Dejour Energy (NYSE: DEJ) $0.11. Announced Monday after market close that it has signed a Letter of Intent to create a strategic joint venture partnership with a private Singapore based energy company to develop the company’s Colorado oil and gas assets.Upon completion of due diligence, legal documentation and requisite approvals expected prior to January 31, 2014, SECO will invest an initial sum of up to $27.5mm in 2014 and 2015 to earn an 85% share in Dejour’s interests in its Colorado properties, primarily Kokopelli, subject to certain interest claw backs available to Dejour. Following this capital investment by SECO, the partners will continue to judiciously develop the reserves on a pro rata basis.
The terms of the agreement include a capital injection to Dejour of approximately US$ 4.5mm, including cash and assumption of certain liability agreements on outstanding debt and the 100% development funding of an initial $10.5mm in capital expenditures in 2014 with a further $12mm in 2015, targeting Kokopelli, subject to certain provisions. Additionally, SECO will assume 85% of the ongoing overhead of Dejour’s U.S. operations and joint project management during the initial period. SECO will also share responsibility to maintain the other Dejour U.S. leases in good standing on a pro rata ownership basis or return them to Dejour in a timely fashion. Dejour will remain the operator of record.
What They Do: Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin (approximately 70,000 net acres) and Peace River Arch regions (approximately 7,500 net acres).
China Recycling Energy Corp. (NASDAQ: CREG) $4.14. Today announced its wholly-owned subsidiary Xi'an TCH Energy Technologies Co., Ltd. ("Xi'an TCH") entered into a contract with Hebei Tangshan Rongfeng Iron & Steel Co., Ltd. (Tangshan Rongfeng) to construct a coke gas (CDQ waste heat) power generation project in the mode of BOT (build-operate- transfer).
Tangshan Rongfeng is a coking and steel rolling integrated enterprise and can produce 1.4 million tons of coke each year. Based on Rongfeng's existing production line, Xi'an TCH will construct CDQ (Coke Dry Quenching) facilities and 20MW power station to generate electricity by using waste heat from production process and reduce the emission of carbon dioxide at the same time. All electricity generated in this project will be purchased and used by Tangshan Rongfeng, Xi'an TCH is to collect energy-saving service fees according to the electricity generated.
In accordance with the contract, Xi'an TCH will invest USD 24.5 million (RMB 150 million) to construct CDQ facilities and waste heat power station. In addition to financial investment, Xi'an TCH will be responsible for construction, procurement, operation and management of power station. The operation period of this project will be 20 years during which Xi'an TCH will collect energy-saving service fees at RMB 0.582/kWh for the first ten years and RMB0.432/kWh for the second ten years; it is estimated that the annual net earnings will exceed USD 5.9 million (RMB 36 million) and total investment may be recovered within 5 years.
What They Do: China Recycling Energy Corp. is a leading developer of waste energy recycling projects for industrial applications in China.
DNA Brands (OTCQB: DNAX) $0.018. Today announced it has signed a new distribution agreement with Koerner Distributor to sell its newly branded energy drink line and new energy coffee drink products. The energy drink line is comprised of the award winning Cellular Citrus, Cellular Citrus-Zero Sugar, Cryo Berry, Molecular Melon and Original, while the three coffee flavors are Mocha, Caramel Macchiato and Vanilla Latte.
Koerner Distributor has 4 branches covering a population in excess of one million people. Koerner distributes hundreds of beer, wine and liquor brands such as Miller, Coors and Corona from around the world to such prestigious retailers as Schnucks, Shop N Save, Deirberg's, Circle K, Casey General Store and Huck's.
What They Do: DNA BRANDS, make DNA Energy Drink, the 2010 and 2012 winner of the best-tasting energy drink at the World Beverage Competition.
Copyright © 2005-2014 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)