Gas Utility Companies affected by Oil Spill: SSHO, NE, BDCO

June 25, 2010 - PRLog -- SSHO, South Shore Resources (Other OTC- SSHO.PK)

Last: 0.20

Recent News:

South Shore Resources Welcomes and Supports New National Greenhouse Gas Auto Emission and Efficiency Standards for the United States & Canada

The new regulations which were recently announced by both Canadian and American governments aim to cut carbon dioxide emissions from vehicles by 30 percent and increase fuel efficiency by 40 percent over the coming years.

South Shore Resources Inc. believes these regulations illustrate the environmental and financial merits of the HyProStar Series of Hydrogen Generating Modules and its technology. South Shore also believes that its HyProStar Series of Hydrogen Generating Modules are an obvious aftermarket alternative to Rising Fuel Prices and Harmful Greenhouse Gases along with the negativity of the recent BP Oil-Spill.

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Noble Corporation

Last: $29.02

Change: +$0.59 (+2.07%)

Volume: 4,550,535

Bid: $29.01

Ask: $29.01

Noble Corp. is a leading provider of diversified services for the oil and gas industry. The Company performs contract drilling services with its fleet of 62 mobile offshore drilling units.

NE reported being advised by one of its customers, Anadarko Petroleum, that they believe the drilling moratorium enacted by the U.S. Department of the Interior’s Minerals Management Service is a force majeure event under their contract on the Noble Amos Runner. The Company believes that Anadarko will attempt to terminate the contract by claiming a force majeure event. In response, the Company has advised Anadarko that it does not believe that the moratorium constitutes force majeure. The Company’s drilling units, including the Noble Amos Runner, are ready and able to drill and Anadarko is not prevented from using the unit on a variety of activities permissible under the contract, the moratorium or otherwise in their deep and diverse portfolio of international properties.

To date, Noble has not received any other contractual notifications from customers attempting to declare a force majeure event under their respective contracts. The Company does not believe that a force majeure event exists as a result of the moratorium or the oil spill, and, while the Company is working closely with its customers, it plans to enforce its contractual rights.

http://www.noblecorp.com/



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Blue Dolphin Energy Company (NasdaqCM: BDCO)

Last: $0.41

Change: $+0.0566(+16.566%)

Volume: 816,163

Avg. Volume (3m): 262,743

Bid: $0.39

Ask: $0.41

Recent News:

BDCO: Blue Dolphin Signs Commitment Letter to Acquire Majority Working Interest in Indonesian Assets

Blue Dolphin Energy Company, through its subsidiaries, engages in the provision of pipeline transportation and related services for producers/shippers, and exploration and production of oil and gas in the United States.

(”Blue Dolphin”), an independent oil and gas company with operations in the Gulf of Mexico, announced today that its wholly-owned subsidiary, Blue Dolphin Pipe Line Company, has contracted with a new shipper to provide gas and condensate transportation services for the shipper’s production to be delivered into the Galveston Area Block 350 Pipeline. The production will be delivered into the pipeline in Galveston Area Block 385. The Company expects transportation services for this shipper to commence in early December 2009. Throughput volumes are not yet known. Blue Dolphin Pipe Line Company owns an 83% undivided interest in the Galveston Area Block 350 Pipeline.

http://www.blue-dolphin.com/





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