Lakeway, TX -- (SBWIRE) -- 03/05/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Shares of Select Comfort Corp. (NASDAQ:SCSS) fell by $3.23 or 15.70% to $17.28 after the company reported of experiencing below-plan sales since February 1, 2013 and is likely to miss its internal goals for the first quarter.
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Shelly Ibach, president and CEO said this to be a short-term issue associated with accelerated changes made to the media-buying strategy, and that they are making the necessary corrections to both media buying and near-term expenses.
The company does not provide quarterly financial guidance and does not plan to provide additional commentary regarding first-quarter sales or earnings performance prior to April 17, 2013.
Apache Corporation (NYSE:APA) reported a discovery on the north flank ofEgypt's Khalda Ridge producing complex tested at a combined rate of 3,186 barrels of oil and condensate and 11 million cubic feet of natural gas per day from two zones in the Jurassic-aged upper and lower Safa formations.
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This is the first 2013 well among several planned locations targeting multiple liquids-rich objectives on the northern and southern flanks of the Khalda Ridge.
Apache plans to drill three development wells offsetting the Amoun NE-1X and test two nearby exploration plays later in 2013 as well as several additional prospects on the southern flank of Khalda Ridge.
Apache also reported success at the WD 33 Development Lease acquired in 2010. Apache's exploration and development drilling on WD 33 in theAbu Gharadig Basin began in late 2012, and the recently completed WD 33-5, which cost $3.65 million to drill and complete, tested at a rate 2,324 barrels of oil and 600 thousand cubic feet of gas per day from the Abu Roash E reservoir.
"The high oil and condensate yields encountered in Amoun NE-1X and the potential for additional wells on the Khalda Ridge and Abu Gharadig Basinprovide multiple opportunities for Apache's active exploration and development program in Egypt," said Thomas M. Maher, vice president and general manager of Apache's Egypt Region.
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