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ABN Newswire Stocks to Watch: March 10, 2010
ABN Newswire Stocks to Watch: March 10, 2010
Sydney, Mar 10, 2010 AEST (ABN Newswire) - Galaxy Resources Limited (ASX:GXY) (PINK:GALXF) said it has commenced exploration on its West Kundip manganese project tenements with the completion of a VTEM airborne electromagnetic survey. This survey has defined several anomalous zones potentially related to bedrock conductors which could represent targets for manganese mineralisation.

The Board of Conquest Mining Limited (ASX:CQT) (PINK:CQMLF) said that Mr Jake Klein has accepted the position of Executive Chairman of the Company. Mr Nicholas Curtis and Mr James (Jim) Askew will also be appointed to the Board as Non Executive Directors. The appointments are subject to shareholder approval and will take effect on the date of an Extraordinary General Meeting (EGM) to be called as soon as practicable.

Emerging Australian bauxite company, Australian Bauxite Limited (ASX:ABZ) has applied for eight new bauxite exploration tenements in Tasmania covering an area totalling 1,508 square kilometres and containing good quality bauxite in favourable settings for potential development. Because of this major expansion in Australian Bauxite's tenement areas, the company intend to step-up our exploration efforts to accelerate the rate of expansion in our JORC-compliant resources and to establish project prioritisation.

Australian health care company Benitec Limited (ASX:BLT) (PINK:BNIKF) has provided an update on the USA Patent Re-examination of the "Graham" patent 6,573,099. The company confirmed that Benitec and CSIRO (Commonwealth Scientific and Industrial Research Organisation) have filed a reply to the Examiner's Answer and a Request for Oral hearing before the Board of Patent Appeals and Interference in the USA.

AusTex Oil Limited (ASX:AOK) (PINK:ATXDF) said that drilling of the wildcat Eisenhour #1 Well commenced on Monday 8 March 2010. The well is targeting the Lansing-Kansas City and Cherokee formations with an expected Total Depth of 4400 feet on a structural high with a four-way closure identified by the Company's geophysicist.

Bandanna Energy Limited (ASX:BND) has appointed Mr. David Campbell as Manager - Exploration. David was, from 2006 until January 2010, Vice President - Exploration of Waratah Coal Inc which holds extensive exploration areas in the Galilee Basin, including the China First Project located immediately adjacent to Bandanna's South Galilee Project.

Plans by WestSide Corporation Limited (ASX:WCL) to join Mitsui E&P Australia Pty Ltd to acquire the Dawson Seamgas coal seam gas (CSG) assets in Queensland's Bowen Basin from Anglo American (LON:AAL) (OTC:AAUKY) and Mitsui Moura Investment Pty Ltd ("MMI") have been unaffected by subsequent pre-emption notices relating to neighbouring permits. MMI and Molopo Energy Limited (ASX:MPO) have exercised pre-emptive rights to acquire Anglo's joint venture interests in tenements ATP 602P and ATP 564P, including a sub-leased portion of Petroleum Lease 94.

Texon Petroleum Ltd (ASX:TXN) said that following the re-fraccing of the Tyler Ranch #1 well and remedial work on other wells in the Leighton field that the Company's nett production from all of its wells (including Leighton) has increased to 535 boepd, up 40% from the mid January rate of 378 boepd in the Company's December quarterly report.


Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344

Related Companies

WestSide Corporation Limited       
Texon Petroleum Ltd       
Galaxy Resources Limited        
Conquest Mining Limited             
Benitec Biopharma Limited       
Bandanna Energy Limited        
Australian Bauxite Ltd        
AusTex Oil Limited       

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