BP: Cracks in Well Head Still Possible As Cap Test Goes On: SSHO, APC, & BP

July 17, 2010 - PRLog -- South Shore Resource (Other OTC- SSHO.PK)

Last: $0.20

Recent News: South Shore Resources Inc. Reporting Status Upgraded to Current Information

South Shore Resources Inc. (Other OTC- SSHO.PK) is engaged in the manufacturing, marketing, sales and distribution of products which are committed to fuel savings with the use of Hydrogen Generating Modules and related accessories to the transportation and automotive manufacturing industries which are either in development and/or commercialization stages. SSHO reported that it has met the requirements for the Current Information tier for the period ending March 31, 2010. SSHO’s HyProStar Hybrid Conversion Kit uses proven technology to increase vehicles’ mileage and significantly reduce the fuel costs. On most vehicles, HyProStar improves fuel economy up to 25% or more. SSHO’s HyProStar uses a little electricity from the car or truck battery to extract hydrogen from water. The hydrogen mixes with oxygen via the intake manifold and acts as a combustion enhancement for a better, more complete burn of fuel; which results in lower emissions, greatly improved mileage and more power for vehicles. SSHO welcomes and supports the new national greenhouse gas auto emission and efficiency standards to be implemented in the United States and Canada. For more information about this company (SSHO) please visit http://www.southshoreresourcesinc.com



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Anadarko Petroleum Corporation

Recent New: BP: Cracks in Well Head Still Possible As Cap Test Goes On

APC is among the largest independent oil and natural gas exploration and production companies in the world, with approximately 2.3 billion barrels of oil equivalent (BBOE) of proved reserves at year-end 2009. APC’s portfolio of assets encompasses premier positions in nearly a dozen major U.S. onshore natural gas resource plays.

APC also is the largest independent deepwater producer in the Gulf of Mexico, and has production and/or exploration in Alaska, Algeria, Brazil, China, Indonesia, East and West Africa.

Kahn Swick & Foti, LLC (”KSF”) has filed a class action lawsuit against APC in the United States District Court for the Southern District of New York, on behalf of purchasers of the common stock of the Company between June 12, 2009 and June 9, 2010, inclusive (the “Class Period”). No class has yet been certified in this action.

In particular, the Complaint charges APC, 25% owner of the Macondo/Deepwater Horizon well currently leaking millions of gallons of oil into the Gulf of Mexico, with failing to disclose, among other things: that there was no effective Exploration and Oil Spill Response Plan for Macondo/Deepwater Horizon; that BP implemented drilling procedures solely to cut costs at the expense of safety; that the Company lacked adequate systems of internal, operational or financial controls to maintain adequate insurance reserves or to meet the known or foreseeable risks associated with its deepwater drilling liabilities; and that defendants lacked any reasonable basis to claim that APC was operating according to plan, or that APC could achieve guidance sponsored and/or endorsed by defendants.

More about APC at www.anadarko.com

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BP p.l.c.  
recently reported that oil stopped spilling into the Gulf of Mexico from the broken well for the first time since the disastrous spill began. It was the most significant milestone yet in BP’s effort to control one of the worst environmental disasters in U.S. history.

Now begins a waiting period to see if the cap can hold the oil without blowing a new leak in the well. Engineers will monitor pressure readings incrementally for up to 48 hours before reopening the cap while they decide what to do next. The cap is only planned as a temporary fix until a final plug is set from underground, maybe next month.

BP has spent more than $3 billion to corral the spill, and also BP has agreed to set aside another $20 billion for damage claims. In addition, BP has taken steps to reassure business partners in the Middle East and Russia that it remains a viable company.

BP p.l.c. provides fuel for transportation, energy for heat and light, retail services, and petrochemicals products.

For more information about this company please visit http://www.bp.com





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