SARASOTA, Fla., Oct. 12, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Silver Star Energy, Inc. (OTCBB:SVSE), Ameritrade Holding Corp. (Nasdaq:AMTD), Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA) and Genzyme Corp. (Nasdaq:GENZ).
Energy stock investors may want to take a look at a little known company called Silver Star Energy, Inc. (OTCBB:SVSE), a company committed to exploring and developing oil and natural gas reserves throughout western North America through high quality, low risk prospects provided by key strategic alliance partnerships. On Monday the company announced that it has executed acquisition and joint operating agreements on five natural gas prospects in California, joining an exploration project on these prospects located throughout the Sacramento Basin.
Silver Star Energy said that it has a 7.5 percent carried working interest on four of the prospects and has acquired a 25 percent carried working interest in the fifth, and under the terms of the agreements, is carried through the drilling and completion of the first well on each of the five prospects. The company added that cumulative potential natural gas reserves in the five newly acquired prospects are in excess of 100 Bcf. Gas, and that each separate gas play has been chosen as a moderate risk, high probability of success gas target with good quality seismic anomalies in known gas producing formations. Silver Star said there is 3D Seismic information, good geological control and analog fields spread throughout the basin.
The drilling of the first prospect is targeted for the fourth quarter of this year, weather permitting. Due to the intense competition between gas exploration and development companies competing for the best quality prospects in the Sacramento Basin, Silver Star said the specifics of each play will be made available after spudding, adding that as the prices of natural gas continue to rise, high quality gas prospects are of a competitive nature.
Silver Star also added the company is carried on all costs related to the prospect through the licensing, permitting, drilling and completion of the first well on each project, and in the event of a successful gas well being drilled, it would then be responsible for the working interest costs of well tie-in and pipeline, following testing and completion. Silver Star would also then be a working interest participant on any additional gas wells drilled.
SVSE is currently trading at around .70 a share.
On the Nasdaq;
Ameritrade Holding Corp. (Nasdaq:AMTD)
Online brokerage service Ameritrade Holding Corp. announced before the bell Monday that it has launched an online advisory service, Amerivest, for the use of long-term investors. Ameritrade said that the service would be helpful to the investors to achieve their financial goals, and added that there would not be any fees until January 1, 2005 to those becoming an Amerivest client and opening an Ameritrade Investing Account. Fees would then be assessed on a quarterly basis in advance based on the closing balance on the last day of the previous quarter.
Shares of AMTD ended Monday's trading session higher by 32 cents at $11.85.
Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA)
Teva Pharmaceutical announced Monday that data presented on COPAXONE demonstrated its clinical benefits in relapsing-remitting multiple sclerosis. The company said that the data presented at the 20th congress of the European Committee for Treatment and Research in Multiple Sclerosis showed that results with COPAXONE were superior to treatment with interferon beta therapies.
TEVA closed Monday's regular trading session up 0.51 at $25.43, on volume of over 4.3 million shares.
Genzyme Corp. (Nasdaq:GENZ), Genetic Technologies Ltd. (Pink Sheets:GNTLY) (ASX:GTG)
Genetic Technologies Ltd. (Pink Sheets:GNTLY) announced Monday that, under a new collaboration, it has granted a license to Genzyme Corp. (Nasdaq:GENZ) for human testing applications. The company said that Genzyme would pay Genetic technologies a signing fee and an annual fee for the life of certain non-coding patents, and that the license covers a wide range of human genetic testing applications including research, pre-clinical trials and commercial genetic testing. Financial terms of the agreement were not disclosed.
Shares of GENZ closed Monday's regular trading session up .33 at $52.14. GTG closed Monday on the AMEX at $0.57 on a volume of 665,913 shares, and last closed on the Pink Sheets at $4.35.
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