SARASOTA, Fla., Oct. 27, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Fidelis Energy, Inc. (OTCBB:FDEI), Gateway Energy Corporation (OTCBB:GNRG), Aspen Exploration Corporation (OTCBB:ASPN) and Perma-Fix Environmental Service (Nasdaq:PESI).
Investors will surely want to keep an eye on oil and gas company Fidelis Energy, Inc. (OTCBB:FDEI) as the company announced after the closing bell Tuesday that they have negotiated, arranged and secured $5 million in financing to forward its oil and gas projects. The line of credit is secured by production, specifically from the North Franklin Project gas sales that is expected to be in production shortly. In a prior news release, Fidelis Energy stated that they plan to steam a number of the 19 wells on the Comanche Point property to increase the heavy oil daily production.
FDEI has been seeing its price rise $.50 for the month of October.
Gateway Energy Corporation (OTCBB:GNRG)
Gateway Energy Corporation, owner and operator of natural gas gathering, transportation and distribution systems and related facilities, stock traded on volume of over 18 times its daily Tuesday. Shares of GNRG finished the trading session up 8 cents, or 33 percent, at $0.32.
Aspen Exploration Corporation (OTCBB:ASPN)
Aspen Exploration Corp. announced two additional gas discoveries on Tuesday. Aspen said it has drilled nine successful gas wells out of nine attempts thus far this year and is currently drilling one additional well in the Sacramento Valley gas province of northern California.
Shares of ASPN closed Tuesday up 10 cents at $1.49.
Perma-Fix Environmental Service (Nasdaq:PESI)
Industrial waste management services company Perma-Fix Environmental Services, Inc. announced on Tuesday that it has been awarded a multi-year, $23 million contract for the treatment of mixed low-level wastes generated at the Department of Energy's Hanford Site, a plutonium production complex that played a pivotal role in the nation's defense for more than 40 years.
PESI closed Tuesday at $1.45, up 13 cents.
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