Transmeridian Exploration Incorporated and Transmeridian Exploration Inc. Extend Consent Solicitation for 12% Senior Secured Notes Due 2010 and Protective Products of America, Inc. Announces Bridge Buy with the Marines and Amended Credit Agreement with CIBC

City of Industry, CA --(www.USEquityNews.com)-- 08/07/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. Transmeridian Exploration Incorporated (AMEX: TMY) (``Transmeridian'') and its wholly-owned subsidiary Transmeridian Exploration Inc. (``TMEI'') recently announced that they have extended the consent payment deadline with respect to their exchange offer and concurrent solicitation of consents to amend the indenture governing TMEI's 12% Senior Secured Notes due 2010 (the ``Existing Notes'') (CUSIP Nos.: 89376NAC2, 89376NAA6, 89376NAB4, U87289AB7) and related security documents. The consent payment deadline, which was 5:00 p.m., New York City time, on August 7, 2008, will be extended to 5:00 p.m., New York City time, on August 12, 2008, unless further extended.



Mariner Energy, Inc. (NYSE: ME) recently reported record quarterly revenues, income and production for the three-month period ended June 30, 2008. Net income for second quarter 2008 was $123.4 million, an increase of 274% compared with the same period of 2007. Fully-diluted earnings per share (EPS) were $1.39, up 266% from $0.38 fully-diluted EPS reported for the second quarter 2007. Scott D. Josey, Chairman, Chief Executive Officer and President of Mariner Energy, commented: "Mariner's second quarter results reflect our strong production growth, diligent cost control efforts, as well as impressive drilling success in all areas -- deepwater, shelf and onshore. We further expanded our position in West Texas, to more than 93,000 net acres, up almost 50% from year end 2007.

Protective Products of America, Inc. ("PPA"), a leading manufacturer and distributor of advanced products in ballistics protection, is pleased to report that the U.S. Marine Corps ("USMC") has confirmed that it intends to enter into an agreement for a "Bridge Buy" for Modular Tactical Vests ("MTV") for a procurement amounting to approximately USD$17 million. Furthermore, PPA anticipates additional USMC orders for sustainment, or replacement, parts associated with the MTV in the near future. The Company is also announcing that it has successfully amended its credit agreement with Canadian Imperial Bank of Commerce effective as of July 31, 2008. The amending agreement extends the maturity date of the Company's operating line of credit to August 29, 2008.

Diamond I, Inc. (OTCBB: DMOI), a reporting company trading on the OTCBB that is to change its name to "US BioFuels Exchange, Inc.," announced recently that it has obtained the first round of funding for its online biofuels exchange, USBiofuelsExhange.com (the "US-BX"). This first funding was obtained from a group of investors, including petroleum and biofuels marketing veterans and petroleum and biofuels marketing companies. This funding assures the launch of the US-BX. "This type of industry support certainly bolsters our belief that the time for the US-BX is now," said Tom Gray, DMOI's newest director. "We are excited with the building momentum and look forward to announcing more developments in this important project."

About U.S. Equity News

U.S. Equity News provides information, resources and news services for investors of small-cap, micro-cap and emerging companies. U.S. Equity News distributes RSS news feeds and a free subscription-based newsletter available through its website at www.usequitynews.com.

U.S. Equity News is a financial news distribution service by Equity Solutions, Inc. (www.equityirsolutions.com) that provides a platform for public companies to disseminate important news to key Wall Street interest such as shareholders and new investors. Equity Solutions, Inc. can assist by providing an effective increase in the awareness of a public company's news, development and corporate story through its proprietary network and its financial portal. U.S. Equity News and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.USEquityNews.com.

Contact Information:
U.S. Equity News
Tel: (626) 961-8039
Email: info@usequitynews.com

Comments:
Disclaimer: User Comments do not reflect the views of US Equity News, and we are not responsible for the content of users' comments. We also reserve the right to edit or delete comments to our discretion.

---