The Bahrain real estate market is not in as bad shape as the UAE. Buyers do not want to commit right now and the market is in mild decline. That said, the majority of homes in the Kingdom have been bought by owner-occupiers and speculator activity has been restrained, although it does exist. One aspect that has helped the Bahrain market so far is he presence of the U.S. Navy’s Fifth Fleet. Despite falling house prices, there is a shortage of housing and that makes the long term picture look brighter.br /br /In the north, various new developments are being constructed on reclaimed land. This does not help the increasing demand in low cost housing, so investors are keenly watching demand.

Effective June 26, 2008, Heritage Explorations Inc. has changed its name to USR Technology Inc. which reflects the new and exciting direction being undertaken by the company in the oil and gas services sector, specifically the provision of directional drilling services to international oil and gas companies, with emphasis on ultra-short radius, short radius and slim-hole applications. With the new name, the company also has a new trading symbol, “USRT”, on the Over-the-Counter Bulletin Board.

There have also been other changes as it relates to corporate officers and daily operations. Effective June 20th, 2008, John L. Ogden resigned as president of the company and was appointed chairman. Serving as the new president of the company and a member of the board is J. David LaPrade, who has extensive industry experience, including 27 years in the oil and gas sector, specifically in the drilling of ultra short radius wells.

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