HOUSTON, July 14 /PRNewswire-FirstCall/ — Goodrich Petroleum Corporation announced today that it has closed its previously announced offering of 3,000,000 shares of its common stock, par value $0.20 per share (the “Initial Shares”) and that the underwriters of the offering have exercised their option to purchase an additional 121,300 shares of common stock (the “Option Shares”). The closing for the issuance and sale of the Option Shares closed simultaneously with the closing of the issuance and sale of the Initial Shares.
Net proceeds from the offering were approximately $191.4 million after deducting the underwriters’ discount and estimated offering expenses, and will be used to pay off the outstanding balance of its senior revolving credit facility, with the remainder to be used for general corporate purposes, including capital expenditures associated with its ongoing operations and expansion of its activities in the Haynesville Shale.
J.P. Morgan Securities Inc. acted as sole book-running manager. In addition, co-managers included Morgan Stanley & Co. Incorporated, Raymond James & Associates, Inc., Deutsche Bank Securities Inc., Howard Weil Incorporated, Jefferies & Company, Inc., Johnson Rice & Co. L.L.C., Tudor, Pickering, Holt & Co. Securities, Inc., BMO Capital Markets Corp., Capital One Southcoast, Inc., Tristone Capital Co., BNP Paribas Securities Corp., and Collins Stewart LLC. Copies of the final prospectus supplement and accompanying base prospectus may be obtained from the offices of J.P. Morgan Securities Inc. at 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department, e-mail: , telephone: (718) 242-8002.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state.
Certain statements in this news release regarding future expectations and plans for future activities may be regarded as “forward looking statements” within the meaning of the Securities Litigation Reform Act. They are subject to various risks, such as financial market conditions, operating hazards, drilling risks, and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas, as well as other risks discussed in detail in the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.
Goodrich Petroleum is an independent oil and gas exploration and production company listed on the New York Stock Exchange. The majority of its properties are in Louisiana and Texas.
Goodrich Petroleum Corporation

WASHINGTON, June 10 /PRNewswire-USNewswire/ — The 60 Plus Association today warned that the Consumers-First Energy Act of 2008 “contains anti-market provisions and places domestic energy companies at a competitive disadvantage by hindering innovative energy solutions resulting in unbearable increases in fuel costs.
“America’s seniors are struggling under the current rise in gas and food prices,” said 60 Plus President Jim Martin. “This legislation worsens their situation, especially seniors struggling on fixed incomes.”
The bill targets U.S. energy companies for additional taxes in an effort to control high energy costs. Martin said these so-called windfall profits taxes will act as a subsidy for foreign competitors, resulting in even higher energy costs for Americans and increased reliance on foreign oil. “This was a failed policy in the 1980s, resulting then in reduced domestic oil production and increased oil imports, and higher prices at the pump for all Americans but especially seniors on fixed incomes. What is past is prologue and seniors remember all too well those dismal days, long lines at the pump, domestic production down and oil imports up.
“Attempting such measures again will only make the goal of American energy self-sufficiency seem impossible,” Martin said. “If forced to pay additional taxes, energy companies will be less able to develop sustainable energy solutions.” Martin further argued that “quality of life for seniors and others on fixed incomes will decrease as energy costs increase, and many more will be forced to decide between medications, groceries, and gasoline.”
The 60 Plus Association is a 15-year-old nonpartisan organization taking on important issues such as death tax repeal, saving Social Security, working to lower energy costs, affordable prescription drugs and other senior-friendly issues featuring a less government, less taxes approach. 60 Plus calls on support from nearly 4.5 million citizen activists. 60 Plus publishes a quarterly magazine, SENIOR VOICE, and a Scorecard, bestowing a Guardian of Seniors’ Rights award on lawmakers of both parties who vote “pro-senior.” 60 Plus has been called “an increasingly influential senior citizen’s group.”
Contact: Ed Fulginiti
(703) 807-2070
The 60 Plus Association

ST. LOUIS, April 29 /PRNewswire-FirstCall/ — Patriot Coal Corporation today reported its financial results for the quarter ended March 31, 2008. The Company reported revenues of $284.3 million, EBITDA of $17.1 million, and a net loss of $3.1 million for the 2008 first quarter. This compares to historical results of $269.7 million, $16.3 million, and $12.0 million for revenues, EBITDA, and net loss, respectively, in the 2007 first quarter.
After giving effect to pro forma adjustments, as explained below, 2007 first quarter revenues were $275.8 million. Net income on a pro forma basis was $6.5 million and EBITDA was $40.7 million. Both of these 2007 amounts were largely driven by $35.2 million in gains on property sales. Excluding gains on property sales from the 2007 first quarter, EBITDA improved from $5.5 million on a pro forma basis in 2007 to $17.1 million in the first quarter of 2008.
Prior to November 1, the Company was wholly-owned and operated by Peabody Energy Corporation. Patriot was spun off from Peabody, effective October 31, 2007. This release includes historical results, as well as pro forma information showing the effects of transactions associated with the spin-off, assuming the spin-off was in effect at the beginning of 2007. The pro forma financial statements are presented, in addition to the historical financial statements, as they are more indicative of the Company’s results on a post-spin, stand-alone basis.
“We are pleased with the continued improvement in our operating results this quarter, especially in light of the adverse geological conditions experienced at our Federal mine. Margins per ton at our mining operations improved 35% this quarter compared to the year-ago pro forma results, as we began to realize benefits from operational improvements our management has put in place since taking control of these assets,” said Patriot President and Chief Executive Officer Richard M. Whiting. “With the resumption of longwall production at Federal, very strong markets in terms of volume and pricing, and the anticipated closing of the Magnum transaction this summer, we anticipate solid financial performance as we look toward the remainder of 2008.”
Financial & Operating Highlights
Tons sold in the 2008 first quarter totaled 5.1 million, down 0.7 million from the prior year. In Appalachia, volume decreased 0.5 million tons compared to the 2007 first quarter. During the 2008 first quarter, the Company experienced adverse geological conditions at its Federal mine, including two roof falls. Metallurgical coal represented 29% of tons sold in the 2008 first quarter, compared to 20% in 2007. In the Illinois Basin, volume declined 0.2 million tons in the 2008 first quarter, primarily as a result of flooding on the Ohio River, and heavy rainfall affecting our surface operations.
Revenues in the 2008 first quarter were $284.3 million, an increase of $8.5 million over the prior year pro forma amount. Revenues in Appalachia increased $5.1 million over the prior year pro forma amount, as significantly higher average selling prices more than offset decreased sales from the Federal mine. Revenues in the Illinois Basin declined $1.2 million, primarily as a result of the decreased volume, partially offset by higher average selling prices. Other revenues increased by $4.6 million to $5.2 million in the 2008 first quarter as a result of purchased coal sales in Appalachia.
EBITDA was $17.1 million for the 2008 first quarter. This amount includes the impact of adverse geological conditions at the Federal mine, which lowered EBITDA by an estimated $17.0 million. After giving effect to the pro forma adjustments, EBITDA in the 2007 first quarter was $40.7 million. EBITDA in the year-ago first quarter included gains on property sales of $35.2 million. There were no similar transactions in the 2008 first quarter.
Finances
Patriot had net revolver borrowings of $13.1 million as of March 31, 2008. Capital expenditures totaled $12.0 million in the 2008 first quarter.
Acquisition of Magnum Coal Company
On April 2, 2008, the Company announced that it had signed an agreement to acquire Magnum Coal Company (”Magnum”). Magnum sold 18.4 million tons of coal in 2007 and operates 12 mines and 7 preparation plants in Central Appalachia. Under the terms of the agreement, Magnum stockholders will receive approximately 11.9 million shares of newly-issued Patriot Coal common stock. Additionally, Patriot will assume net debt estimated at $150 million, bringing the total acquisition price to approximately $709 million, based on the April 2, 2008 closing price of Patriot common stock. The acquisition is subject to certain regulatory approvals and customary closing conditions, and the issuance of common stock is subject to approval by Patriot stockholders. The proposed transaction is expected to be completed around mid-year.
On a pro forma basis, the combination of Patriot and Magnum would have sold more than 40 million tons in 2007 and generated revenues of just under $2.0 billion. Proven and probable reserves on a combined basis will exceed 1.9 billion tons. With the addition of Magnum, Patriot will be positioned as the second largest coal producer in Central Appalachia and the seventh largest in the U.S. overall.
“We believe the Magnum acquisition will further diversify our asset base and provide valuable synergies, especially in the commercial and operational areas,” continued Whiting. “We look forward to completing this acquisition and realizing the many benefits we see from the combination.”
Joint Venture Agreement to Develop Central Appalachian Coal Reserves
On April 24, the Company announced it had entered into a joint venture agreement to develop certain Patriot reserves in the Central Appalachian Kanawha River region. Patriot holds a 49% interest and will lease up to 25 million tons of undeveloped coal reserves to the joint venture. The project is expected to reach an initial production level of at least 1.0 million tons per year.
“This transaction allows Patriot to develop some of our strategically-located coal reserves and furthers our stated strategy to grow the business, particularly in Central Appalachia,” concluded Whiting. “We will continue to seek more bolt-on transactions like this one, as a means to grow organically, in tandem with our growth through major acquisitions.”
Market Overview
Global demand for both thermal and metallurgical coal continued to strengthen during the quarter, driving U.S. exports higher, with prices setting record highs. Unprecedented international demand for coal, and supply constraints due to infrastructure and other issues, are expected to extend this trend and to result in sustainable, longer-term growth and pricing strength in coal markets. As an example, Australian coal prices for the April 1 fiscal year into Japan were recently reported to settle at approximately $305 and $125 per tonne for hard coking coal and thermal coal, respectively. These are increases of over 200% for coking coal and 100% for thermal coal, compared to the prior year. Patriot’s presence in all three eastern U.S. coal basins, as well as its meaningful metallurgical coal volumes, allows it to fully participate in the strengthening met and thermal markets, both in the U.S. and overseas.
Inventories at U.S. electricity generators from the coal supply regions of Northern Appalachia, Central Appalachia and the Illinois Basin have all declined substantially since a year ago and currently stand at levels well within the historical five-year range.
Outlook
“Our first quarter results were significantly impacted by geological issues at Federal, and we continue to experience inflationary pressure on our cost structure. Nevertheless, with enhanced production and commercial opportunities going forward, we are pleased to reiterate our 2008 guidance,” noted Patriot Senior Vice President and Chief Financial Officer Mark N. Schroeder. “Moreover, in the midst of extremely favorable market conditions, we are already speaking with international and domestic customers about new multi-year business in 2009 and beyond.”
Excluding the effects of the Magnum acquisition, for 2008, the Company anticipates sales volumes in the range of 23.0 to 25.0 million tons, EBITDA between $115 and $145 million, and earnings per share in the range of $0.95 to $1.30 per share.
As of March 31, 2008, excluding the effects of the Magnum acquisition, less than 0.5 million tons each of expected 2008 met and thermal volumes remained unpriced. Of the Company’s expected 2009 volumes, 5.5 to 6.5 million tons and 3.5 to 4.5 million tons of met and thermal volumes, respectively, remained unpriced as of March 31. Of expected 2010 volumes, 7.5 to 8.5 million tons and 9.0 to 10.0 million tons of met and thermal volumes, respectively, remained unpriced as of March 31.
Conference Call
Management will hold a conference call to discuss the first quarter results on April 29, 2008 at 10:00 a.m. Central Daylight Time. The conference call can be accessed by dialing 888-428-4474, or through the Patriot Coal website at . International callers can dial 651-291-0618 to access the conference call. A replay of the conference call will be available on the Company’s website and also by telephone, at 800-475-6701 for domestic callers or 320-365-3844 for international callers, passcode 920517.
About Patriot Coal
Patriot Coal Corporation (the “Company”) is a leading producer and marketer of coal in the eastern United States, with ten Company-operated mines and numerous contractor-operated mines in Appalachia and the Illinois Basin. The Company ships to electric utilities, industrial users and metallurgical coal customers, and controls approximately 1.3 billion tons of proven and probable coal reserves. The Company’s common stock trades on the New York Stock Exchange under the symbol PCX.
Important Information for Stockholders
The Company will file a proxy statement/prospectus with the Securities and Exchange Commission (the “SEC”) in connection with the proposed issuance of Company common stock in the transaction with Magnum. Investors and stockholders are urged to read the proxy statement/prospectus when it becomes available and any other relevant documents filed with the SEC because they will contain important information about the proposed issuance. Investors and stockholders may obtain these documents free of charge at the website maintained by the SEC at . In addition, documents filed with the SEC by the Company are available free of charge by contacting investor relations by phone at 314-275-3680, in writing to Janine A. Orf, Director of Investor Relations, or by email to . The final proxy statement/prospectus will be mailed to stockholders.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
The Company, Magnum and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the proposed issuance. Information about the Company’s directors and executive officers is set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2007 filed with the SEC on March 14, 2008 and in the proxy statement for the Company’s 2008 annual meeting of stockholders filed by the Company with the SEC on April 7, 2008. Additional information regarding the potential participants in the proxy solicitation and information regarding the interests of such potential participants will be included in the proxy statement/prospectus and the other relevant documents filed with the SEC when they become available.
Forward Looking Statements
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. These statements involve certain risks and uncertainties that may be beyond our control and may cause our actual future results to differ materially from expectations. We do not undertake to update our forward-looking statements. Factors that could affect our results include, but are not limited to: failure to obtain Company stockholder approval of the proposed issuance of shares in connection with the Magnum transaction; failure to obtain, delays in obtaining or adverse conditions contained in any required regulatory or other approvals; availability and cost of financing; failure to consummate or delay in consummating the transaction for other reasons; changes in laws or regulations; changes in general economic conditions, including coal and power market conditions; the outcome of commercial negotiations involving sales contracts or other transactions; the Company’s dependence on Peabody Energy Corporation in the near future; geologic, equipment and operational risks associated with mining; supplier and contract miner performance and the availability and cost of key equipment and commodities; the Company’s ability to replace coal reserves; labor availability and relations; availability and costs of transportation; weather patterns affecting energy demand; legislative and regulatory developments; risks associated with environmental laws and compliance; the outcome of pending or future litigation; and the availability and costs of competing energy resources. The Company undertakes no obligation (and expressly disclaims any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information concerning factors that could cause actual results to materially differ from those projected herein, please refer to the Company’s Form 10-K and 8-K reports.
Condensed Income Statements (Unaudited)
For the Quarter Ended March 31, 2008 and 2007

(Dollars and tons in thousands, except per share data)
Pro Forma
Historical Quarter
Quarter Ended Ended
March March March
2008 2007 2007

Tons sold 5,085 5,749 5,749

Revenues
Sales $279,101 $269,041 $275,202
Other revenues 5,233 622 622
Total revenues 284,334 269,663 275,824

Costs and expenses
Operating costs and expenses 259,118 277,665 262,381
Depreciation, depletion and
amortization 18,610 21,358 21,048
Asset retirement obligation expense 3,416 5,655 5,655
Selling and administrative expenses 8,289 10,909 7,975
Net gain on disposal of assets (194) (35,226) (35,226)
Operating profit (loss) (4,905) (10,698) 13,991
Interest income (3,249) (2,646) (2,646)
Interest expense 2,322 2,825 2,142
Income tax provision (benefit) (912) - 6,948
Minority interests - 1,074 1,074
Net income (loss) $(3,066) $(11,951) $6,473

Loss per share, basic & diluted $(0.12)

EBITDA $17,121 $16,315 $40,694

Pro forma results include transactions associated with the company’s
spin-off from Peabody Energy, which was effective October 31, 2007. These
include a $6.2 million increase to revenues for the quarter ended
March 31, 2007 from repricing of a major coal supply agreement; a
$15.6 million reduction of operating costs for the quarter ended
March 31, 2007 associated with the assumption by Peabody Energy of certain
retiree healthcare liabilities; and a $2.9 million reduction of selling
and administrative costs for the quarter ended March 31, 2007 for
Patriot’s stand-alone management and administrative structure and
functions. Pro forma financial information was derived from the company’s
historical combined financial statements and includes these adjustments,
among others, to present results as if the spin-off of Patriot Coal from
Peabody Energy occurred on January 1, 2007.

This information is intended to be reviewed in conjunction with the
company’s filings with the Securities and Exchange Commission.

Earnings (loss) per share for 2007 is not presented for periods prior to
the spin-off as Peabody and its affiliates were the sole owners prior to
October 31, 2007.

Supplemental Financial Data (Unaudited)
For the Quarter Ended March 31, 2008 and 2007
Pro Forma
Historical Quarter
Quarter Ended Ended
March March March
2008 2007 2007

Tons Sold (In thousands)
Appalachia Mining Operations 3,180 3,650 3,650
Illinois Basin Mining Operations 1,905 2,099 2,099
Total 5,085 5,749 5,749

Revenue Summary (Dollars in thousands)
Appalachia Mining Operations $212,762 $201,453 $207,614
Illinois Basin Mining Operations 66,339 67,588 67,588
Other 5,233 622 622
Total $284,334 $269,663 $275,824

Revenues per Ton - Mining Operations
Appalachia $66.91 $55.19 $56.88
Illinois Basin 34.82 32.20 32.20
Total 54.89 46.80 47.87

Operating Costs per Ton -
Mining Operations(1)
Appalachia $55.18 $48.76 $48.93
Illinois Basin 32.02 28.99 28.99
Total 46.50 41.54 41.65

Segment Adjusted EBITDA per Ton -
Mining Operations
Appalachia $11.73 $6.43 $7.95
Illinois Basin 2.80 3.21 3.21
Total 8.39 5.26 6.22

Dollars in Thousands

Past Mining Obligation Expense $22,121 $38,372 $22,809

Asset retirement Obligation Expense 3,416 5,655 5,655

Capital Expenditures (Excludes
Acquisitions) 12,030 16,370 16,370

(1) Operating costs are the direct costs of our mining operations,
excluding costs for past mining obligations, asset retirement
obligations, and depreciation, depletion and amortization.

Pro forma results include transactions associated with the company’s
spin-off from Peabody Energy, which was effective October 31, 2007.
These include a $6.2 million increase to revenues for the quarter
ended March 31, 2007 from repricing of a major coal supply agreement;
a $15.6 million reduction of operating costs for the quarter ended
March 31, 2007 associated with the assumption by Peabody Energy of
certain retiree healthcare liabilities; and a $2.9 million reduction
of selling and administrative costs for the quarter ended
March 31, 2007 for Patriot’s stand-alone management and administrative
structure and functions. Pro forma financial information was derived
from the company’s historical combined financial statements and
includes these adjustments, among others, to present results as if the
spin-off of Patriot Coal from Peabody Energy occurred on
January 1, 2007.

This information is intended to be reviewed in conjunction with the
company’s filings with the Securities and Exchange Commission.

Condensed Balance Sheets
March 31, 2008 and December 31, 2007

(Dollars in thousands)
March December
2008 2007
(Unaudited)

Cash and cash equivalents $9,408 $5,983
Receivables 138,806 125,985
Inventories 36,612 31,037
Other current assets 14,033 6,214
Total current assets 198,859 169,219
Net property, plant, equipment and mine
development 871,820 876,289
Notes receivable 129,495 126,381
Investments and other assets 27,360 27,948
Total assets $1,227,534 $1,199,837

Short-term borrowings $22,500 $-
Accounts payable and accrued liabilities 190,175 184,519
Total current liabilities 212,675 184,519
Long-term debt, less current maturities 10,453 11,438
Other noncurrent liabilities 920,718 921,564
Total liabilities 1,143,846 1,117,521
Common stock, paid-in capital and accumulated
deficit 155,249 156,356
Accumulated other comprehensive loss (71,561) (74,040)
Total stockholders’ equity 83,688 82,316
Total liabilities and stockholders’ equity $1,227,534 $1,199,837

This information is intended to be reviewed in conjunction with the
company’s filings with the Securities and Exchange Commission.

Reconciliation of Net Income (Loss) to EBITDA (Unaudited)
For the Quarter Ended March 31, 2008 and 2007

(Dollars in thousands)
Pro Forma
Historical Quarter
Quarter Ended Ended
March March March
Reconciliation of net income (loss) 2008 2007 2007
to EBITDA:

Net income (loss) $(3,066) $(11,951) $6,473
Depreciation, depletion and amortization 18,610 21,358 21,048
Asset retirement obligation expense 3,416 5,655 5,655
Interest income (3,249) (2,646) (2,646)
Interest expense 2,322 2,825 2,142
Income tax provision (benefit) (912) - 6,948
Minority interests - 1,074 1,074
EBITDA $17,121 $16,315 $40,694

EBITDA is defined as net income (loss) before deducting interest expense
and income, income taxes, minority interests, asset retirement obligation
expense and depreciation, depletion and amortization. We have included
information concerning EBITDA because we believe that in our industry such
information is a relevant measurement of a company’s operating financial
performance and liquidity. Because EBITDA is not calculated identically
by all companies, our calculation may not be comparable to similarly
titled measures of other companies. The table above reflects the
company’s calculation of EBITDA.

Pro forma results include transactions associated with the company’s
spin-off from Peabody Energy, which was effective October 31, 2007. These
include a $6.2 million increase to revenues for the quarter ended
March 31, 2007 from repricing of a major coal supply agreement; a
$15.6 million reduction of operating costs for the quarter ended
March 31, 2007 associated with the assumption by Peabody Energy of certain
retiree healthcare liabilities; and a $2.9 million reduction of selling
and administrative costs for the quarter ended March 31, 2007 for
Patriot’s stand-alone management and administrative structure and
functions. Pro forma financial information was derived from the company’s
historical combined financial statements and includes these adjustments,
among others, to present results as if the spin-off of Patriot Coal from
Peabody Energy occurred on January 1, 2007.

This information is intended to be reviewed in conjunction with the
company’s filings with the Securities and Exchange Commission.

Patriot Coal Corporation

XI’AN, China, May 21 /Xinhua-PRNewswire-FirstCall/ — China Bio Energy Holding Co, Ltd (BULLETIN BOARD: CBEH) , an energy company engaged in the wholesale distribution and processing of heavy oil and finished oil products and the development, production and distribution of bio-diesel fuel, today announced that the Company will present at the ROTH China Discovery Tour at the Ritz Carlton Hotel — Sanya in China on Friday, May 23, 2008 at 4:00 p.m. local time.
For more information about the conference, please contact your ROTH Capital institutional sales representative.
About China Bio Energy Holding Co, Ltd
CBEH is a distributor of petroleum related products and a manufacturer and distributor of biodiesel fuel. CBEH sells a variety of related products including, gasoline (used primarily in automobiles), diesel fuel (commercial vehicles, agricultural machines, etc.), heavy oil and slurry (ship boilers, heating furnaces, metallurgical furnaces and other industrial furnaces), residual oil (utilized to manufacture petroleum coke, residual lubricating oil and asphalt or as a feedstock for cracking), and naphtha (used to manufacture ethane, propane, benzene, toluene and xylene). Sales of oil products in 2007 currently accounts for approximately 94% of CBEH’s total revenues.
Bio-diesel refers to a clean burning alternative fuel produced from domestic, renewable resources. Bio-diesel is made through a chemical process whereby glycerin is separated from fat or vegetable oil. Bio-diesel contains no petroleum, but it can be blended at any level with petroleum diesel to create a bio-diesel blend and can be used in compression-ignition (diesel) engines with little or no modifications. Bio-diesel is the ideal substitute of petro-diesel and it has many benefits, including excellent environmental performance, superior ignition, compatibility with existing diesel engines, better lubrication to extend the life time of engines, and renewability. Sales of bio-diesel fuel account for approximately 19% of the Company’s total revenues in the first quarter of 2008. The percent of bio-diesel in the Company’s total revenues will increase greatly as the output of biodiesel increases.
Safe Harbor Statement
This press release contains certain statements that may include “forward-looking statements.” All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,”"expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website ( ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:

US Contact:
Mary Xia/Lin Li
Tel: 1-732-230-3148

Asia Contact:
Dan Joseph
ICR, Inc.
Tel: 86-21-6122-1077

Gaihong Li
China Bio Energy Holdings
Tel: 86-29-8320-4383

China Bio Energy Holding Co, Ltd

HARRISBURG, Pa., May 19 /PRNewswire/ — electric industry representatives said results of a competitive capacity auction designed to secure resources needed to meet electricity needs in June of 2011 at the lowest prices, indicate that competitive electric markets work. Late last week, PJM Interconnection announced that its latest Reliability Pricing Model (RPM) auction resulted in enough capacity to provide the region with reliable electric service at a price 37% lower than previous auctions.
Douglas Biden, President of the electric Power Generation Association, said policy makers in Harrisburg should take note of these results as they consider options to address and mitigate the impacts associated with the approaching expiration of generation rate caps and expected higher electricity prices.
Biden stated that “The PJM auction results reinforce the fact that competitive markets offer the best means to temper higher electric prices. While rates will have to go up because of dramatic increases in fuel and the cost of constructing generation during the time rate caps have been in place, competitive markets will help to provide reliable service at the lowest possible prices.”
Biden noted that the competitive auction process is also bolstering reliability. The auction resulted in an 18 percent “reserve margin,” or the amount of “extra” electric capacity available to meet the region’s electricity needs during times of peak demand. He cautioned, “However, PJM must continue its efforts to work with the Federal Energy Regulatory Commission to ensure that the capacity auctions accurately reflect the cost of new generation entry to maintain future electric reliability.”
Together with previous auctions, RPM has resulted in commitments to provide more than 16,000 additional megawatts of electricity, or enough to power 16 million homes. Biden said this is important given the fact that more capacity from new power plants will be needed to meet the steadily increasing demand for electricity in the region.
Biden said, “As America grows and older power plants retire, we know that we will have to build cleaner and more efficient plants to meet the ever-growing demand for electricity. By using competitive auctions that pit suppliers against each other on a best price basis, RPM auctions help to guarantee that only the most efficient plants will be built.”
Biden pointed out that several types of new power plants were proposed. The auction, which covered the 2011-12 period, resulted in a proposed net increase of 4,238 megawatts (MW) of new generation coming from multiple sources — coal, natural gas, wind, and solar as well as proposals to limit demand, thereby further reducing the need for even more capacity. In fact, over 660 MW of new demand response, or offers to voluntarily reduce electricity usage, cleared the auction — the equivalent of a mid-sized power plant. Likewise, nearly 300 MWs of uprates to nuclear capacity cleared the auction, further demonstrating that all types of electricity related resources are competing to provide cost effective and reliable service.
The electric Power Generation Association is a regional trade association of electric generating companies headquartered in Harrisburg, Pa. Its members own and operate more than 139,000 megawatts of electric generating capacity, approximately half of which is located in Pennsylvania and surrounding states.
Electric Power Generation Association

RENO, Nev., May 14 /PRNewswire-FirstCall/ — Ormat Technologies, Inc. (the “Company”) today announced the closing of the sale of 3,100,000 shares of common stock in a public offering. Lehman Brothers Inc. acted as underwriter for the public offering.(Logo: )The aggregate net proceeds from the public offering, after deducting underwriting discounts and commissions and estimated offering expenses, are approximately $149.6 million. The Company expects to use some or all of the net proceeds to acquire additional geothermal and recovered energy assets, either directly or through one or more subsidiaries, by way of acquiring assets or securities of existing businesses, purchasing or leasing new geothermal or recovered energy sites, expansion or development of existing projects, or any combination of the above. The Company is currently considering a number of alternatives and may consider other alternatives in the future. To the extent the Company decides not to proceed with any one or more of these alternatives, the Company expects to use the net proceeds from this public offering for other general corporate purposes of the Company and its consolidated subsidiaries.A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from Lehman Brothers Inc., c/o Broadridge Integrated Distribution Services, Inc., 1155 Long Island Avenue, Englewood, New York, 11717, by email: or fax: (631) 254-7140.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of any of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.About Ormat TechnologiesOrmat Technologies, Inc. is the only vertically-integrated company primarily engaged in the geothermal and recovered energy power business. The Company designs, develops, owns and operates geothermal and recovered energy-based power plants around the world. Additionally, the Company designs, manufactures and sells geothermal and recovered energy power units and other power-generating equipment, and provides related services. The Company has more than four decades of experience in the development of environmentally-sound power, primarily in geothermal and recovered-energy generation. Ormat products and systems are covered by more than 75 patents. Ormat currently operates the following geothermal and recovered energy-based power plants: in the United States — Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1; in Guatemala — Zunil and Amatitlan; in Kenya — Olkaria; and in Nicaragua — Momotombo.Safe Harbor StatementInformation provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to Ormat’s plans, objectives and expectations for future operations and are based upon its management’s current estimates and projections of future results or trends. Actual future results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such risks and uncertainties, see “Risk Factors” as described in Ormat Technologies, Inc.’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 5, 2008.These forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Ormat Technologies Contact: Investor Relations Contact Dita Bronicki Todd Fromer / Marybeth Csaby CEO KCSA Strategic Communications 775-356-9029 212-896-1215/212-896-1236 /Ormat Technologies, Inc.

HARTFIELD, Va., May 13 /PRNewswire-FirstCall/ — XcelPlus Global Holdings Inc (Pink Sheets: XPGH) announces the acquisition of a new alternative energy fuel technology and process that enables glycerin, a byproduct from bio-diesel production, to be converted to a fuel suitable for use in turbine engines.Gly-Clene (TM), as the new product is called, was developed by Maverick BioFuels as a new alternative energy source. This fuel can be made from any crude glycerol, regardless of the feedstock, including yellow grease.Gly-Clene has the ability to power up turbine engines for electricity production or any other non-aircraft use associated with turbine engines. Gly-Clene can also be used to heat fluid bed reactors as it also performs well in oil gun furnaces as you can see in a soon to be released video linked on .With the ever-increasing biodiesel production, the glycerin market grows as well. Subsequently, the fear of another glut has concerned biodiesel manufacturers, scratching their heads looking for a stable way to dispose of this by-product. There is currently enough glycerin produced in the U.S. alone for Gly-Clene to produce 27,000 megawatts of electricity per day or over 8 billion megawatts per year without even adding steam turbines to take advantage of the excess heat produced by the turbines.For more information, there are also more video links being added on and a new website under construction.This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although XcelPlus Global believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion should not be regarded as a representation by XcelPlus Global Holdings or any other person that the objective and plans of XcelPlus Global Holdings will be achieved.You can contact Investors Relations at XcelPlus Global Holdings Inc

PARIS April 16 PRNewswire-FirstCall - - Guarrojo Exploration Contract Maurel Prom Operator 100The Ocelote SW-1 and Ocelote-2 exploration wells in the Llanos region 300km east of Bogota have been drilled to 4674 ft and to 4355 ft depth- The Ocelote-SW1 well met an oil interval in the Carbonera formation and showed an output of 1278 bd of an oil of approximately 25 degrees API- The Ocelote-2 well met an oil interval in the Carbonera formation and showed an output of 622 bd of an oil of approximately 25 degrees APIMaurel royalties stand at 8The first positive well Ocelote-1 drilled at the beginning of 2007 is currently in an extended test producing 580 bd of an oil of about 25 degrees API A 3D seismic survey of 165 km2 was acquired immediately following the discovery to support the appraisal and development drilling plansTotal production from the three Ocelote wells is currently 2480 bd 2281 bd net post-royalties The production of these wells could be restrained in order to monitor sand and water levels 7 additional wells are planned for 2008A new exploration well Guarrojo SW-1 is planned in June 2008 to test the south-western part of the permitCurrently Hocol wholly owned subsidiary of Maurel Prom has facilities on this permit to handle up to 3500 bd The production of these three wells is currently being evacuated by truck Additional surface facilities are under construction to handle an additional 5000 bdThese two new positive wells allow the Group to pursue its objectives in terms of production and in terms of reserves replacementSan Jacinto Rio Paez association Maurel Prom operator 3667The Cumbia exploration well drilled on the San Jacinto Rio Paez association located in the Upper Valley of the Magdalena 300 km south-west of Bogota has been plugged and abandonedThis press release may contain forward-looking statements with respect to the financial condition results of operations business strategy and plans of Maurel exchange rate fluctuations uncertainties inherent in estimating quantities of oil reserves actual future production rates and associated costs operational problems political stability changes in laws and governmental regulations wars and acts of terrorism or sabotage Maurel Prom is listed on Euronext Paris - compartment A - CAC mid 100 Index Isin FR0000051070 Bloomberg MAUFP Reuters MAUPPA Coming next Wednesday April 30 2008 - 1st quarter revenues 2008 Investor Relations Laurence Borbalan Tel 33-1-47-03-68-58 Mob33-6-79-44-66-55 Press Relations Michelle Aubert Tel 33-1-47-03-68-61 Mob33-6-85-34-45-94 Maurel Prom

FUQING CITY China April 15 Xinhua-PRNewswire-FirstCall - China Clean Energy Inc BULLETIN BOARD CCGY China Clean Energy the Company a leading producer of biodiesel fuel and environmentally-friendly specialty chemical products made from renewable resources in The Peoples Republic of China PRC today announced it has engaged Moore Stephens Wurth Frazer and Torbet LLP as the Companys independent auditorOn April 9 2008 the Company engaged Moore Stephens Wurth Frazer and Torbet LLP to serve as the Companys independent auditor effective immediately Moore Stephens Wurth Frazer and Torbet LLP is an international independent auditing firm serving clients in many industries and geographic locations and through its association with Moore Stephens International Limited in London has an international accounting network with over 621 offices in more than 95 countriesThe Companys consolidated financial statements for the fiscal year ended December 31 2007 were audited by Michael T Studer CPA PC The audit report prepared by Michael T Studer CPA PC for this period did not contain any adverse opinion or disclaimer of opinion nor were they qualified or modified as to uncertainty audit scope or accounting principles There were no disagreements between China Clean Energy Inc and Michael T Studer CPA PCAbout China Clean EnergyChina Clean Energy through its wholly-owned subsidiaries Fujian Zhongde Technology Co Ltd and Fujian Zhongde Energy Co Ltd is engaged in the development manufacturing and distribution of biodiesel fuel and specialty chemical products made from renewable resources Since its inception the Company has been engaged in the manufacture of high-quality specialty chemical products from renewable resources Through its research and development efforts the Company developed a proprietary process for refining biodiesel fuel from waste grease and certain vegetable oils Using this proprietary process China Clean Energy began producing biodiesel in 2005 and commenced selling biodiesel commercially starting in December 2005 For more information please contact China Clean Energy Inc Mr Gary Zhao CFO Tel 86-138-0133-9172 China Email CCG Elite Investor Relations Inc Mr Crocker Coulson President Tel 1-646-213-1915 New York Email Mr Ed Job CFA Tel 1-646-213-1914 Email China Clean Energy Inc