Key Energy Services Provides July Activity Data and Tri-Valley Subsidiary Arranges $5 Million Initial Funding to Accelerate Production

City of Industry, CA --(www.USEquityNews.com)-- 08/19/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. Key Energy Services, Inc. (NYSE: KEG) announced recently its rig and trucking hours for the month of July 2008. The Company calculates working days as total weekdays for the month less any Company holidays that occur that month. For the month of August 2008, there are 21 working days. Key Energy Services, Inc. is the world's largest rig-based well service company. The Company provides oilfield services including well servicing, pressure pumping, fishing and rental tools, electric wireline and other oilfield services. The Company has operations in all major onshore oil and gas producing regions of the continental United States and internationally in Argentina and Mexico.


ENSCO International Incorporated (NYSE: ESV) announced that Carey Lowe has joined ENSCO as Senior Vice President. His responsibilities will include safety, health and environmental matters, capital projects, engineering and strategic planning. Mr. Lowe has twenty-seven years experience in the energy industry. Prior to joining ENSCO, Mr. Lowe was Vice President - Latin America for Occidental Oil & Gas. He also served as President & General Manager, Occidental Petroleum of Qatar Ltd. from 2001 to 2007. Mr. Lowe held various drilling-related management positions with Sedco Forex and Schlumberger Oilfield Services from 1980 to 2000, including Business Manager - Drilling, North and South America, and General Manager - Oilfield Services, Saudi Arabia, Bahrain and Kuwait. Following Schlumberger, he was associated with a business-to-business e-procurement company until he joined Occidental in 2001. Mr. Lowe holds a Bachelor of Science degree in civil engineering from Tulane University.

Tri-Valley Corporation (AMEX: TIV) announced that its subsidiary, Great Valley Production Services LLC (GVPS), has arranged its first $5 million tranche to fund expansion of equipment and infrastructure to accelerate oil and gas production increase on its six development properties in California. GVPS already has 17 steam generators with five in the field and 12 more being refurbished and brought up to air quality codes for various California venues. GVPS is currently working to secure an oil sales pipeline to more efficiently accommodate increasing production at Tri-Valley's Pleasant Valley heavy oil operation in Oxnard, California. In line with Tri-Valley's stated plans to expand its field holdings and continuing to build production, GVPS is considering additional facilities, field equipment and other ways to strongly support the Company during this period of rapid growth. In all, GVPS plans to raise as much as $15 million, as needed, for these functions. This will be accomplished partly through the sale of GVPS equity by the parent, Tri-Valley Corporation, primarily to existing project investors.

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.

---