(Street Life is a regular feature that profiles what's playing in the stock market.)

ACT I: NO Sullen Mullen

* The Player: Mullen Group Income Fund (TSX:MTL.UN)

* Action: Up eight per cent or $1.43 in a month (from $19 April 4)

* Recent Price: $20.43

* 52-Week High/Low: $23.92/$13.95 Investment advisers have been suggesting diversification for years, and an Alberta-based income fund just proved that strategy works.

Mullen Group Income Fund, known for its transportation and related services to the oil and gas industry, recently announced first-quarter losses that were mitigated by the company's diversification.

Revenue for the quarter ending March 31, 2008 fell overall to $358.1 million, down $7.6 million from the same period a year ago, thanks mainly to lower oil and gas drilling activity and a "competitive pricing environment."

Saving Mullen from a bigger loss was the trucking/logistics business segment and the business units leveraged to the transportation of fluids and servicing of wells. (Trucking/logistics revenue rose to $115.7 million from $109.2 million in the same quarter a year ago, while oilfield services fell from $257.6 million to $242.7 million.)

Net income for the company dropped to $49.7 million in the quarter, down 14.6 per cent from the $58.3 million posted in the same quarter of 2007. (Trucking/logistics income was up to $17.2 million from $14.2 million in Q1 2007, and oilfield services income fell to $68.4 million from $73.1 million in 2007.)

Act II: Map Mania

* The Player: Intermap Technologies (TSX:IMP)

* Action: Up five per cent or $0.29 in a day (from $5.75 May 2)

* Recent Price: $6.04

* 52-Week High/Low: $11.40/$4.71 A technology company listed on the TSX has been tooting its own horn about its new mapping achievement. Shareholders got caught up in the excitement, pushing the stock up five per cent on the day.

Intermap Technologies, based in Denver, announced it has completed collecting data for its 3D mapping of 18 countries in Western Europe. This "feat of tremendous significance," as described by Intermap CEO Brian Bullock, will result in national datasets that include 3D surface and terrain models and orthorectified radar images.

Processing and editing the data to produce commercially available data is expected to take 10 months.

Intermap is also working on a similar program for the U.S., with a target completion date at the end of 2009.

Shareholders pushed the stock up five per cent the day of the announcement, but were clawing back some of that gain the following day.

Act III: Ok in the U.K.

* The Player: Antrim Energy (TSX:AEN)

* Action: Holding near $4 since early March

* Recent Price: $4.

* 52-Week High/Low: $8.73/$2.98 A Calgary-based junior oil and gas exploration and drilling company has struck liquid money off U.K. shores.

Antrim Energy suspended its most recent well (the Fyne well) in the U.K. central North Sea as a future oil producer, and expects it will produce even better than an existing adjacent well with a flow rate of 3,600 barrels of oil per day.

Antrim will submit reservoir information to an independent engineering evaluator and expects to drill two additional wells before submitting an application to U.K. authorities for development approval. If approved, production should begin in 2010. Shareholders didn't seem too impressed. Shares were down four per cent the day after the announcement, continuing the stock's two-month hover around $4 after falling from more than $8 last summer.

Act IV: Stone cold

* The Player: Iamgold (TSX:IMG)

* Action: Down 21 per cent or $1.60 in a month (from $7.55 April 4)

* Recent Price: $5.95

* 52-Week High/Low: $10.25/$5.80 An Ontario gold mining company with international interests is announcing good news, but the stock is still reeling from a halt in Ecuador mining.

Iamgold recently announced it has successfully negotiated two collective agreements with the Canadian Auto Workers Union at the company's Niobec mine in Quebec. That completes new agreements with all seven of the company's unions worldwide since Iamgold became operator in 2006.

The company also announced strong results from its Westwood gold project in Quebec. "The potential of this project is growing exponentially," says Joseph Conway, Iamgold's president and CEO, and the company intends to accelerate Westwood as quickly as possible.

Share prices are lagging behind, however, since dropping like a stone when the Ecuadorian government froze all mining exploration in the country for up to six months.

NOTE: The above is not intended as investment advice to buy or sell any mentioned securities. Investors should do due diligence before investing. Quotes are based on results through May 5, 2008.

(Nicole Strandlund can be reached at nicole@businessedge.ca)