Toro Energy Limited

Wall Street continued its gains for a fifth day on Thursday on some upbeat economic data and corporate guidance. The Commerce Department's report showed a sign of consumer spending pickup as US trade volume and imports surged. A separate report said jobless claims fell to 550,000 in the past week.

2009 will be an interesting year for Uranium in Western Australia. The change of Government has led to uranium exploration and mining being back in favour but the financial crisis has led to a lack of funds being available for exploration. However the outlook is positive. Uranium usage is tipped to increase with China and India leading the way and Japan also active in the sector.

Resource Capital Research ("RCR"), an equity research company which focuses on small and mid size resource companies, today launched its major quarterly research report covering 16 global uranium exploration and development companies.

Yesterday, the Australian share market closed in the red for a second consecutive day with the broader All Ordinaries index ending 38.2 points lower, or 1%, at 3,883.6. The benchmark S&P/ASX200 share index yesterday lost 33.6 points, or 0.9%, to close at 3927.3. The industrial, materials, energy and consumer discretionary sectors sent the market lower.

Overnight US stocks slumped more than 5% as investors worried about the global financial crisis and a US recession, wiping out the gains from the Election Day rally as the problems facing US President-elect Barack Obama dimmed optimism on Wall Street.

Takeover Offer by Toro Energy Ltd (ASX: TOE) for Nova Energy Ltd (ASX: NEL)

Toro Energy Limited (ASX: TOE), is pleased to announce that detailed exploration of one of South Australia's prime Gawler Craton uranium projects has commenced.

South Australian based uranium explorer, Toro Energy Limited (ASX: TOE) is expanding into the Northern Territory with the farm-in and potential acquisition of a well advanced uranium exploration project northwest of Alice Springs.

Toro Energy Limited (ASX: TOE) has appointed Dr Geoffrey Hudson, a former President of the Australian Geoscience Council and Executive Director of the Australian Mineral Foundation, to the role of Exploration Manager at the ASX-listed uranium explorer.

A new palaeochannel containing anomalous uranium values has been identified in South Australia's far west by Toro Energy Limited (ASX: TOE).