MASP.OB, BOVA, CRWEWallstreet.com Stock Update on July.24

July 24, 2010 - PRLog -- Mass Petroleum (OTC.BB:MASP) (Frankfurt:0MP) is engaged in the acquisition of producing oil and gas projects to build its reserves and ensure sustainable growth through focused project development and acquisitions, that's because of MASP is an oil and gas production company backed by an experienced and dedicated management team.

MASP has committed to acquiring existing oil and gas wells throughout these regions, clean them out, and continue using them for drilling oil and gas going forward. In this vein, MASP entered into a non-binding Letter of Intent with JKA Ventures Corp. for the acquisition of 6 leasehold working interests in Crawford County, Kansas. The purchase price is $800,000, with 10% due at the completion of due diligence. The wells occupying these leasehold working interests produce oil and gas for JKA and will increase Mass Petroleum’s oil and gas production in the Midwest. It already owns interest in Kingfisher County, Oklahoma.

As you see, since July 16, share of MASP shows an increase about 250% which it may be a good news for their shareholders.

MASP has been continuing its efforts to determine key areas of interest through evaluating oil and gas assets with development and drilling upside potential. Mass Petroleum has determined the Kansas areas provide low-risk, multi-well oil and gas investments via direct participation programs through a direct ownership position in the wells or joint venture opportunities. Key facts about Kansas oil production include;

a) The first oil well in Kansas was drilled in 1860.
b) Currently Kansas produces oil and gas in 89 of the 105 counties.
c) Over 4000 permits to drill have been issued in Kansas to date.
d) The average well depth is about 3,500 feet.
e) Over 59,000 wells are actively producing oil and natural gas in Kansas.
f) 70% of the wells produce oil and the other 30% produce natural gas.
g) There are over 2100 oil and gas producers operating in Kansas.

Mass Petroleum is currently reviewing several acquisition targets in Kansas that offer the potential to increase cash flow through production and offer additional blue sky potential through equipment refurbishment, drilling new wells on prolific land packages and joint venture opportunities.

Shares of MASP jumped $0.004 (+38.00%), up to $0.0138 in the end of market trading, yesterday!

Make sure your Radar is on and you have MASP on your watch list; Be ready!

More about MASP at: http://www.masspetroleum.com

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Bank of Virginia  (www.bankofva.com) held its annual meeting of shareholders on Tuesday, July 20, 2010 at the Holiday Inn Koger Center in Richmond, VA.

Frank Bell, III, President and Chief Executive Officer of Bank of Virginia and Kenneth P. Mulkey, Senior Vice President and Chief Financial Officer, provided a business and financial update to shareholders.

During the meeting, shareholders approved all items proposed for vote by the board of directors.

On a particular note, shareholders approved the proposal to issue common stock to Cordia Bancorp, Inc. The investment could be up to $15 million.

According to Frank Bell, President and Chief Executive Officer, "Management and the Board look forward to solidifying the partnership with Cordia Bancorp. We feel this partnership will bring not only additional financial resources, but will also bring considerable banking experience to the team."



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