Adelaide Energy Limited

The Otway Petroleum Project is Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF) 100% owned suite of integrated production, development and exploration oil and gas assets, which are located in the South Australian section of the onshore Otway Basin.

ABN Newswire stocks to watch today include: Murchison Metals (ASX:MMX) (PINK:MUMTF), Iron Road Limited (ASX:IRD), ABM Resources NL (ASX:ABU), iSOFT Group Limited (ASX:ISF) and Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF).

Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF) is pleased to provide the weekly update on the drilling progress at its Hollick #1 well which is being drilled in its 100% owned Petroleum Exploration Licence 255 (PEL 255).

ABN Newswire stocks to watch today include: Murchison Metals Limited (ASX:MMX) (PINK:MUMTF), Burleson Energy Limited (ASX:BUR), Texon Petroleum Limited (ASX:TXN) and Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF).

Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF) is pleased to announce that its 100% owned Hollick-1 well has intersected a significant gas show of 2000 units against a background of 22 units at 2672metres Measured Depth (MD) in the Jacaranda Ridge Sandstone primary objective.

ABN Newswire stocks to watch today include: AuDAX Resources Limited (ASX:ADX) (PINK:ADXRF), AusTex Oil Limited (ASX:AOK) (PINK:ATXDF), Universal Resources Limited (ASX:URL), Coalspur Mines Limited (ASX:CPL) (PINK:CSPZF), Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF), Burleson Energy Limited (ASX:BUR), Beach Energy Limited (ASX:BPT) (PINK:BEPTF) and Otto Energy Limited (ASX:OEL) (PINK:OTTEF).

On April 19th and 20th at the Hilton Hotel in Sydney, ABN Newswire will be among many in Australia's booming investment community present at the 5th Annual Excellence in Oil and Gas 2010 Exhibition.

The Otway Petroleum Project is Adelaide Energy Limited's (ASX:ADE) (PINK:ADEZF) 100% owned suite of integrated production, development and exploration oil and gas assets, which are located in the South Australian section of the onshore Otway Basin.

The Australian sharemarket closed slightly higher on Wednesday. Most of the early gains boosted by BHP Billiton's report of strong half-year production were offset by the losses after news that some Chinese banks have received verbal orders to stop lending for the rest of this month. At the close, the benchmark S&P/ASX200 index added 7 points, or 0.1 per cent, at 4868.2, while the broader All Ordinaries index gained 5.5 points, or 0.1 per cent, to 4895.1.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 30 September. Highlights of the week's activities include: The NS 394-3 [Burtocal North] oil exploration well (Beach 20%) is drilling ahead at a depth of 2117 metres in the South Gharib Formation. Wakefield-1 (Beach 23.33% in Post Permian JV), has been cased and suspended pending further evaluation to establish whether commercial hydrocarbons have been intersected by the well.