SARASOTA, Fla., Sept. 30, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.
Fidelis Energy, Inc. (OTCBB:FDEI), Ness Technologies Inc. (Nasdaq:NSTC) and InterCept Inc. (Nasdaq:ICPT).
Oil and gas company Fidelis Energy, Inc. (OTCBB:FDEI) announced after the closing bell Wednesday "the positive impact the current rise in energy prices has on the Company." The announcement was made by Company president Dan Hodges.
"With an increasing world oil demand of roughly 82 million barrels per day, and oil prices rising to the $50 a barrel zone, the bottom line on the Company's projects will be positively affected. At our Comanche Point heavy oil projects, there are an estimated 5,000,000 barrels of heavy crude."
FDEI is currently seeing its price rise from around .70 a few days prior to around .90 a share.
On the Nasdaq --
Ness Technologies Inc. (Nasdaq:NSTC)
Israeli information technology company Ness Technologies Inc. announced Wednesday that it has priced its initial public offering of 11.6 million common shares at $12.00 per share. Ness Technologies and certain selling stockholders have agreed to sell shares in the offering, which is expected to close on October 4, 2004.
Ness Technologies added that it granted the underwriters a 30-day option to purchase up to an additional of 1.75 million shares, to cover any over-allotments, and said that it would receive any of the proceeds from the common shares sold by the selling stockholders.
NSTC closed Wednesday's regular trading session at $12.60 on volume of 6,508,609 shares.
InterCept Inc. (Nasdaq:ICPT)
Technology products provider InterCept Inc. announced after the bell Wednesday that its acquisition by Fidelity National Financial Inc. (NYSE:FNF) would be an all cash transaction.
InterCept Inc. said that under the terms of the merger agreement signed on September 8, Fidelity had the option to pay either in cash or in a combination of cash and stock. Fidelity has opted for the all cash option and would pay $18.90 for each InterCept share.
Shares of ICPT closed Wednesday's regular trading session at $18.60. FNF closed at $37.40 on the NYSE.
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