Transocean shares fall as Ike damage assessed and Hurricane Ike Office Update for Petro Resources Corporation

City of Industry, CA --(www.USEquityNews.com)-- 09/16/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. Shares of Transocean Inc. (NYSE: RIG), the world's largest offshore drilling contractor, slid Monday as planes crisscrossed the Gulf of Mexico assessing damage to deep-water facilities. "The early prognosis for rigs in the (Gulf of Mexico) affected by Hurricane Ike does not look as bright as it did after Hurricane Gustav," Pritchard Capital Partners analyst Brian Uhlmer said in a note to investors. Rigs were scattered by the massive storm and information about who owns them has filtered in slowly. Transocean's Marianas, a rig operating in 4,000 feet of water in the Gulf, drifted about two miles from its original location.


Ensco International Incorporated (NYSE: ESV) announced today that its Contract Status of Offshore Rig Fleet Report has been updated as of September 15, 2008. The Report is available on the Company's website at http://www.enscointernational.com and can be accessed from the home page by clicking on "Rig Contract Status." The Report also can be accessed through the SEC EDGAR System. The Company updates and files the Report with the SEC on Form 8-K on or about the 15th of each month.

Petro Resources Corporation (NYSE: PRC) ("the Company") provides an update on office operations as a result of Hurricane Ike. Hurricane Ike struck Houston, Texas early Saturday morning leaving most of the city without electrical power. As a result, the building in which the Company offices are located has been closed until such time as essential services can be restored and the building can be re-opened. The building suffered no damage however the Company will have limited or no corporate communications capability until such time as the services are restored and the office can be re-opened. Onshore production has not been affected.

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."

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