Red Hat, Inc. (NYSE:RHT) reported financial results for its fiscal fourth quarter and fiscal year ended February 28, 2011. Total revenue for the quarter was $244.8 million, an increase of 25% from the year ago quarter. Subscription revenue for the quarter was $209.3 million, up 24% year-over-year. For the full year, total revenue was $909.3 million, an increase of 22% over the prior year, and subscription revenue was $773.4 million, up 21% year-over-year.

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Proper Power & Energy, Inc., (PPWE) plans to drill additional wells on its Kentucky property no later than the first month of the second quarter of 2011. Proper Power & Energy also intends to commence exploratory drilling to prove out the reserves on its Utah property by the third quarter of this year. The current price of oil, combined with the rising demand for domestic production could make this a very promising year for Proper Power & Energy. Proper Power & Energy has recently been approached by two independent financing groups and has submitted a $10 million private placement memorandum to both parties involved. These two groups are seeking domestic oil and gas production in light of the Middle East tensions.

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