Indigo-Energy, Inc. (OTCBB: IDGG) is announcing today that it has successfully completed a series of required tests on a 5,800 foot transmission line regulated by the state utilities commission. This pipeline is part of the processing and transportation system which will be utilized to deliver natural gas from the wells recently completed by Indigo and its operating partners in the Illinois Basin drilling project. The high pressure test along with detailed inspections, were conducted on the transmission line that connects the field natural gas processing plant and the interstate pipeline. The testing process was concluded on March 2nd and recommended mechanical adjustments highlighted during the inspection process were completed in the field on March 3rd. [Read the full article]

Microsoft Corp. and Hewlett-Packard Co. were among the most active acquirers of venture-backed companies last decade. And they're sitting on billions of dollars in cash. Associated Press But don't expect either of these tech giants to spend their money willy-nilly on start-ups this year. At Americas Growth Capital conference Tuesday in San Francisco, executives from Microsoft and Hewlett-Packard both labeled their M&A efforts at this point as “methodical,” and expressed caution with buying young venture-backed companies. [Read the full article]

Kendall Law Group, a national shareholder rights law firm, is investigating certain officers and directors of Pride International, Inc. (NYSE: PDE - News) for possible breaches of fiduciary duty and other state laws concerning public statements made by the Company in connection with expected settlements with the federal government. If you currently hold PDE stock purchased prior to 2006, you are encouraged to contact the firm by telephone at 877-744-3728 or by email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

On February 16, 2010, Pride International announced a $56.2 million accrual in the fourth quarter of 2009. The Company indicated that this accrual is their best estimate of potential fines, penalties and disgorgement related to expected settlements with the DOJ and the SEC. [Read the full article]

Union Drilling, Inc. (Nasdaq:UDRL - News) announced today financial and operating results for the three and twelve month periods ended December 31, 2009.

Revenues for the fourth quarter of 2009 were $40.6 million compared to $80.9 million in the fourth quarter of 2008.  The Company reported a net loss of $2.9 million for the quarter, or $0.12 per share, compared to a net loss of $3.7 million, or $0.17 per share, during the fourth quarter of 2008.  Union Drilling's 2009 fourth quarter results included a non-cash $1.1 million charge for the impairment of certain fixed assets related to two rigs that moved from Texas to Appalachia, while the fourth quarter of 2008 included a non-cash $7.9 million charge for the impairment of goodwill.  Excluding these charges, fourth quarter 2009 net loss would have been $1.9 million, or $0.08 per share, compared to net income of $4.2 million, or $0.19 per share in the prior year period. [Read the full article]