Amanda Kiely Copyright Business Wire 200973American Income Fund MRF 85864 59514 6He is currently injured but looking to return shortlyHyundai sees HD video as an essential tool in managing its fastgrowing globaloperationsThe Series 24 Preferred Shares will yield 6IrwinSzostak says this new approach is a betterallaround solutionThenew group operates as a division of The Dreyfus Corporation25 billion in a twopart note according to IFRBurnett both of whom stayed healthy for himInstead they get little brother Oregon StateThe non-GAAP results are an indication of ourbaseline performance that are considered by management for the purpose of makingoperational decisions. In addition, these non-GAAP results are the primaryindicators management uses as a basis for our planning and forecasting of futureperiods. The presentation of this additional information is not meant to beconsidered in isolation or as a substitute for net income (loss) per dilutedshare prepared in accordance with generally accepted accounting principles inthe United States. Non-GAAP financial measures are not based on a comprehensiveset of accounting rules or principles and are subject to limitations. 20 /PRNewswire-FirstCall/ Blackhawk Capital Group BDC,Inc., ("Blackhawk") (OTC Bulletin Board: BHCG.OB), a Delaware corporationregistered as a business development company under the Investment Company Actof 1940, as amended ("Investment Company Act") announced that on January 15,2009 it entered into a Subscription Agreement and Purchaser Questionnaire("Agreement") with EquitySmith, Inc. ("ESI") pursuant to which ESI agreed topurchase 600,000 shares ("Shares") of common stock, $0.00001 par value pershare ("Common Stock") at a purchase price of $5.00 per share, for anaggregate purchase price of $3,000,000.Blackhawk's offering ("Offering") ofthe Shares to ESI was pursuant to a Rule 506 private placement offering beingconducted by Blackhawk under Regulation D of the Securities Act of 1933, asamended ("Securities Act").The Offering is being made pursuant to Rule 506and only to "qualified institutional buyers" ("QIBs") and "accreditedinvestors" as those terms are defined under the Securities Act.The SharesESI will purchase pursuant to the Agreement represent approximately 1.81 ofBlackhawk's outstanding shares of Common Stock.ESI has the right tosyndicate all or part of its $3,000,000 investment to third-party QIBs.Thereare no conditions for the closing of the purchase of the Shares by ESI.As ofthe date of this Form 8-K, the closing has not occurred.Craig A. Zabala, Chairman and President of Blackhawk noted:"ESI'sparticipation is important for Blackhawk."He stated that Blackhawk had alsoretained John W Loofbourrow Associates, Inc. 
("JWL") and ESI to act asplacement agents to raise equity capital for Blackhawk pursuant to a placementagreement dated January 16, 2009 ("Placement Agreement").JWL and ESI willsolicit interest from a limited number of potential investors who are QIBs and"accredited investors" in connection with raising equity capital forBlackhawk.In return for the placement agents' services, subject to theprovisions of this paragraph and the Placement Agreement, Blackhawk will pay aplacement agent a cash fee equal to ten percent (10) of the purchase price($5.00 per share) of any securities placed with a prospective investor by aplacement agent and purchased by the investor.The placement fee for anyshares of Common Stock purchased by ESI shall be payable to JWL.Thus, ESIshall not receive any placement fees on shares purchased by it.The placementfees associated with the sale of shares up to $3,000,000 to ESI shall bepayable to Loofbourrow.Placement fees for all remaining shares sold in theOffering will be split 70 to Loofbourrow and 30 to ESI for sales of sharesof $3,000,001 to $4,000,000, and 100 to ESI for the sales of the remainingshares up to the maximum Offering of $10,000,000.Blackhawk does not have toreimburse a placement agent for its expenses.The Placement Agreementcommenced on January 16, 2009 and terminates on the earliest to occur of:(i)ten (10) calendar days after written notice given to Blackhawk by Loofbourrowor ESI of a potential investor purchasing at least 600,000 shares that willclose on the purchase of shares within five (5) calendar days of the date ofsuch written notice; (ii) twenty-eight (28) calendar days from January 15,2009; or (iii) the date of closing and funding by any investor of asubscription agreement for a minimum of 600,000 Shares (the "Term").Theparties may extend the Term by mutual agreement.This press release shall not constitute an offer to sell or thesolicitation of an offer to buy any security.The securities are beingoffered pursuant to a private placement memorandum to be filed with theSecurities and Exchange Commission and pursuant to Rule 506 under Regulation Dunder the Securities Act of 1933.The securities have not been registeredunder any state securities laws.Neither the Securities and ExchangeCommission nor any state securities commission has in any way passed upon themerits of, or given approval to, guaranteed or recommended the securitiesoffered by Blackhawk or the terms of the offering or has determined that thesecurities are exempt from registration, or made any finding that thestatements in the offering circular are accurate or complete.For additional information, please refer to Blackhawk's Form 8-K filedwith the Securities and Exchange Commission with respect to the transactionsdescribed above.Safe Harbor StatementInformation contained in this release, other than historical information,should be considered forward-looking, and may be subject to inherentuncertainties in predicting future results and conditions.These statementsreflect Blackhawk's current beliefs and are subject to a number ofrisk-factors, including: general economic and investment conditions whichaffect Blackhawk and its operations (including its portfolio company); needfor equity capital and no assurance it can be obtained; valuation and illiquidnature of any portfolio investments; high degree of risk from investing inprivate companies; the regulated environment in which we operate; and thecompetitive market for investment capital and opportunities.Please seeBlackhawk's Form 10-K for the fiscal year ended December 31, 2007, and itsForm 10-Q for the fiscal quarter ended September 30, 2008, previously filedwith the Securities and Exchange Commission, for a detailed discussion of therisks and uncertainties associated with Blackhawk's business.Except asotherwise required by Federal securities laws, Blackhawk undertakes noobligation to update or revise forward-looking statements for new events anduncertainties.Contact:Blackhawk Capital Group BDC, Inc.Dr Craig A. ZabalaPresident and Chief Executive Officer(212) 566-8300SOURCEBlackhawk Capital Group BDC, Inc.Dr Craig A. Zabala, President and Chief Executive Officer, Blackhawk CapitalGroup BDC, Inc., 1-212-566-8300. Company to Issue First Quarter Earnings Report on February 5, 2009WILLIAMSVILLE, N.Y.(Business Wire)National Fuel Gas Company ("National Fuel" or the "Company") (NYSE:NFG) todayannounced that the decline in market prices for crude oil and natural gas atDecember 31, 2008, will require Seneca Resources Corporation ("Seneca"), theCompanys wholly owned exploration and production subsidiary, to record anon-cash charge to write down the book value of its oil and natural gasproducing properties. This decline in commodity prices will also significantlyimpact earnings for fiscal 2009.
Like many independent exploration and production companies, Seneca uses the fullcost method of accounting for determining the book value of its oil and naturalgas properties. This method requires that Seneca perform a quarterly "ceilingtest" to compare the present value of future revenues from its oil and naturalgas reserves based on current market prices (the "ceiling") with the book valueof those reserves at the balance sheet date. If the book value of the reservesexceeds the ceiling, a non-cash charge must be recorded in order to reduce thebook value of the reserves to the calculated ceiling. At December 31, 2008, spot market prices for crude oil and natural gas used tocalculate the ceiling declined significantly to $41.00/Bbl (Cushing, Oklahoma)and $5.71/MMBtu (Henry Hub), respectively.
