Energy stocks are narrowly mixed with the NYSE Energy Sector
Index gaining about 0.2% while the S&P Energy Index currently
is down less than 0.1%. Crude oil for May delivery is down 56 cents
to $96.51 per barrel. May natural gas is off 7 cents to $3.95 per 1
In company news, Synthesis Energy Systems Inc. (
) is up nearly 22% at $1.29 a share, earlier rising within close
range of its 52-week high of $1.53 after announcing plans to
jointly market its SES gasification technology with General
Electric Co's (
) GE Packaged Power subsidiary for small-scale power generation. GE
shares are up about 1.1% and just shy of year highs.
According to the companies, GE's fuel-flexible aeroderivative
gas turbines are well suited to use SYMX's syngas fuels produced
from ultra-low quality coal, coal wastes and refuse. SYMX and GE
recently completed preliminary evaluation of their combined
technologies, with the companies now working together on a
non-exclusive basis to identify prospective customers seeking to
generate between 50 to 10 megawatts of electric power.
In other sector news,
(+) PEIX, (+0.4%, but still near year lows) Closes first trance
of new financing transaction, issuing $6.0 mln of its Series A
subordinated convertible notes. Extends $2.6 mln of plant debt by
three years to June 2016 and retires $3.5 mln of debt due 2016.
Also raised plant credit facility by $5 mln.
(-) FSI, (-8.2%, closer to year lows) Reports $0.08 per share
GAAP net loss, reversing a $0.01 profit last year and trailing
analyst expectations by $0.05. Revenue climbs 14.1% to $3.85 mln,
topping the analyst consensus by $180,000.
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