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Poor earnings report can't eclipse rally as investors put hope in Obamanomics.

CALGARY, ALBERTA AND HOUSTON, TEXAS (MARKET WIRE) Precision Drilling Trust ("Precision") (TSX: PD.UN) (NYSE: PDS) and Grey Wolf, Inc. ("Grey Wolf") (AMEX: GW) today announced that they had made a clarifying amendment to the merger agreement dated August 24, 2008 (the "Merger Agreement"). Supplemental proxy materials will be mailed to Grey Wolf shareholders concerning the amendment. The special meeting of Grey Wolf shareholders to approve the Merger Agreement, as amended, will be moved to December 23, 2008 to allow Grey Wolf shareholders additional time to consider the amendment.

Los Angeles Mayor Antonio Villaraigosa announced to much fanfare on november 24 that the city's municipal utility would launch one of the continent's largest solar power programs. The mayor's plan would direct the city's municipal utility, the Los Angeles Department of Water and Power (LADWP), to build or purchase 1,300 MW of solar energy by 2020.

First Solar, Inc. announced the completion of a 2 megawatt (MW) solar photovoltaic power plant installed on the rooftop of a commercial building in Fontana, California for Southern California Edison (SCE).

EDF Energies Nouvelles announced that it has commissioned the final stage of the Ventominho wind farm in Portugal. With 240 megawatts (MW) in total capacity and a single point of connection to the grid, the onshore wind farm is now fully operational.

For more than a hundred years the Mariani Packing Company has relied on the sun to nurture the plums, apricots, blueberries, apples and other fruit that made its products popular on grocery shelves throughout the world. But with a newly constructed 1.1 megawatt solar power system operational at its Vacaville, Calif., headquarters, the company now uses the sun to produce a different type of product; electricity.

Schlumberger Ltd., the world’s largest oilfield-services company, said 2008 profit will be below the consensus estimate of analysts because of a reduction in oil and natural-gas exploration spending as economies slow.

Valero energy Corp., the largest U.S. refiner, said its Ardmore, Okla., and Memphis refineries are not longer for sale.

CALGARY, ALBERTA (MARKET WIRE) Petro-Canada will release its 2009 Capital Expenditure and Production Outlook on Thursday, December 11, 2008 at 3:00 a.m. Mountain time (5:00 a.m. Eastern time), followed by a conference call for analysts, investors and the media at 7:00 a.m. Mountain time (9:00 a.m. Eastern time).

Full-year 2008 earnings will disappoint analysts, the company warned.