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ABN Newswire Stocks to Watch: February 9, 2010
ABN Newswire Stocks to Watch: February 9, 2010
Sydney, Feb 9, 2010 AEST (ABN Newswire) - Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) has appointed David Evans as the company's new Chief Technical Officer. David will oversee and manage all of the technical aspects of the company's exploration, development and production activities. David will start his role in early March 2010.

Pluton Resources Limited (ASX:PLV) has received the final report from the CSIRO on upgrading iron concentrates using flotation. The test results show that flotation produces high quality concentrates from both the Yampi Member and Wonganin Sandstones from Irvine Island, Western Australia (E04/1172).

Marion Energy Limited (ASX:MAE) (PINK:MAEJF) said its bankers, BNP Paribas Fortis and Fortis Netherlands, have approved an extension of the Company's bank credit facility to a maturity date of March 31, 2011, subject to final documentation. The credit facility currently is fully drawn to a balance of US$42 million. The repayments schedule will include a requirement for a reduction of the amount outstanding from US$42 million to US$37 million by June 30, 2010, a further reduction to US$32 million by September 30, 2010 and the remaining balance outstanding repayable by the maturity date of March 31, 2011.

Contact

Michelle Liang
Asia Business News Asia Bureau
TEL: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net


Related Companies

Pluton Resources Limited       
Marion Energy Limited       
Drillsearch Energy Limited         

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