ABN Newswire

WestSide Corporation Limited (ASX:WCL) Letter to Shareholders - Announcement of 2-for-5 Entitlement Offer To Raise Approximately A$25.4 Million

newsroom@abnnewswire.net — Fri, 9 Mar 2012 12:22:00 GMT

On 8 March 2012 WestSide Corporation Limited (ASX:WCL) announced a non-renounceable pro rata entitlement offer to raise approximately A$25.4 million ("Offer"). Eligible WestSide shareholders will be entitled to subscribe for 2 new fully paid ordinary shares in WestSide ("New Shares") for every 5 WestSide ordinary shares they hold for an issue price of A$0.25 per New Share.

The net proceeds of the Offer will be used to undertake the next stage of work at the Meridian SeamGas gas fields in Queensland's Bowen Basin. This work will be directed at maintaining and increasing gas production to supply existing and future customers. Some of the proceeds of the Offer will be invested in a field development feasibility study required for a Final Investment Decision to support possible new gas sales agreements. A portion of the proceeds will also be used to fund WestSide's joint venture share of exploration programs within its Bowen and Galilee Basin tenements.

The Offer is open to all WestSide shareholders with a registered address in Australia, New Zealand or Indonesia ("Eligible Shareholders").(1) The entitlements of Eligible Shareholders to participate in the Offer will be determined by reference to the number of shares they hold at 7pm (AEDT) on Monday 19 March 2012 ("Record Date").

Details of the Offer will be set out in the offer document ("Offer Booklet"), a copy of which will be lodged with the Australian Securities Exchange (ASX:ASX) and made available on the ASX's website at www.asx.com.au and on WestSide's website at www.westsidecorporation.com on or before 22 March 2012. Eligible shareholders will also be mailed an Offer Booklet together with a personalised Entitlement and Acceptance Form by no later than 22 March 2012. Shareholders whose registered address is not in Australia, New Zealand or Indonesia will not be sent an Offer Booklet.(2)

Key information regarding the Offer

The Offer price of A$0.25 represents a discount of approximately 47.9% to the closing price of WestSide shares on 5 March 2012 (the last trading day for WestSide shares before the Offer was announced) and a 47.5% discount to the 5 day VWAP up to market close on 5 March 2012. It also represents a discount of 39.7% to the theoretical ex-rights price based on WestSide's closing price on 5 March 2012.

On 13 February 2012, WestSide advised shareholders that it had received an indicative, conditional, non-binding and confidential proposal to acquire all of the shares in WestSide for cash consideration of $0.65 per WestSide share ("Indicative Proposal"). The Indicative Proposal was received from Liquefied Natural Gas Limited (ASX:LNG).

The Offer price of 25 cents per share is a 61.5% discount to the price of A$0.65 per share referred to in the Indicative Proposal.

The WestSide Board has not formed a view, at this stage, as to the merits of the Indicative Proposal and there is no guarantee that a binding takeover offer will be received. The WestSide Board has attempted to set a price for the Offer which will be attractive to shareholders taking into account the uncertainty associated with the Indicative Proposal. The 25 cent Offer price represents a 26.5% discount to the closing price of A$0.34 on 10 February 2012 (the last day the shares traded on the ASX before the Indicative Proposal was announced on 13 February 2012) and a 19.9% discount to the 5 day VWAP up to market close on 10 February 2012.

Eligible Shareholders who have applied for their full entitlement of New Shares under the Offer will be offered an opportunity to apply for additional New Shares ("Additional Shares") under a top up facility ("Top Up Facility"). Additional Shares will only be available under the Top Up Facility if Eligible Shareholders do not take up their full entitlements under the Offer, and will be allocated to Eligible Shareholders who apply for Additional Shares in accordance with an allocation policy agreed between WestSide and RBS Morgans.

WestSide has entered into an underwriting agreement with RBS Morgans Corporate Limited ("RBS Morgans") under which RBS Morgans has agreed to fully underwrite the Offer.

As an indication of the level of support for WestSide and its prospects, shareholders New Hope Corporation Limited (through its wholly owned subsidiary Uniford Pty Ltd) ("NHC"), ANZ Specialist Asset Management Limited in its capacity as trustee and responsible entity for the Energy Infrastructure Trust(3) and Nathan Mitchell(4), who hold in aggregate 35% of WestSide's issued capital, have indicated they will take up 100% of their entitlements under the Offer. In addition, NHC has agreed to sub-underwrite part of the Offer.

Action required by Eligible Shareholders

Eligible Shareholders may:

- take up all of the Offer;
- take up all of the Offer and apply for Additional Shares;
- take up part of the Offer and allow the balance to lapse; or
- not take up any of the Offer and allow all of their Offer to lapse.

It is important that Eligible Shareholders determine whether to take up their rights, or allow their rights to lapse. The Offer Booklet will outline how Eligible Shareholders may participate in the Offer, including the Shortfall.

Key Offer dates
---------------------------------------------------------------------
Event                                                   Date
---------------------------------------------------------------------
"Ex" date - date on which Offer
shares begin trading without
entitlement to participate in the Offer        Tuesday 13 March 2012
---------------------------------------------------------------------
Record Date - date for determining
Eligible Shareholders entitled to                          7pm (AEDT)
participate in the Offer                         Monday 19 March 2012
---------------------------------------------------------------------
Opening Date - date on which the Offer
opens, Offer Booklet is despatched to
Eligible Shareholders and released to ASX      Thursday 22 March 2012
---------------------------------------------------------------------
Closing Date - date on which the Offer closes              5pm (AEST)
                                                Thursday 5 April 2012
---------------------------------------------------------------------
Offer shares quoted on a deferred
settlement basis                                Tuesday 10 April 2012
---------------------------------------------------------------------
Shortfall Notification Date - 
WestSide notifies ASX of under subscriptions   Thursday 12 April 2012
---------------------------------------------------------------------
Despatch Date - last day for
allotment of the Offer shares,
deferred settlement trading ends                Tuesday 17 April 2012
---------------------------------------------------------------------
Trading Date - Offer shares
commence normal trading                       Wednesday 18 April 2012
---------------------------------------------------------------------

Note: These dates are indicative only. WestSide reserves the right to change these dates without prior notice.

Further information

In an annexure to this letter, we have included all information provided to ASX in Appendix 3B in compliance with Appendix 7A of the ASX Listing Rules.

Before making a decision whether to subscribe for any New Shares, please carefully read the Offer Booklet when you receive it. The Offer closes at 5:00pm (AEST) on Thursday 5 April 2012.

If you have any questions regarding your rights or the mailing of the Offer Booklet and the accompanying Entitlement and Acceptance Form, please contact WestSide's share registry, Boardroom Pty Limited on +61 (02) 9290 9600. For further information on the Offer, you should contact your professional adviser or WestSide on +61 (07) 3020 0900. On behalf of the Board of WestSide, I thank you for your past support and look forward to your participation in the Offer.

(1) In accordance with ASX Listing Rule 7.7.1(a), WestSide has determined it would be unreasonable to extend the Offer to shareholders with a registered address outside Australia, New Zealand or Indonesia due to the small number of affected shareholders, the number and value of the securities which would otherwise be offered to affected shareholders, and the cost of complying with overseas legal and regulatory requirements.

(2) A process will be conducted in accordance with section 615 of the Corporations Act (Cth) (as modified by the Australian Securities and Investments Commission ("ASIC") Class Order 01/1542) under which the New Shares that would have been offered to ineligible foreign shareholders will be sold by a nominee with any excess over issue price being remitted to the foreign ineligible shareholders (the "Nominee Sale Facility"), unless an appropriate ASIC exemption, notification or waiver is obtained.

(3) Shares are held by EIT's nominee, JP Morgan Nominees Australia Limited.

(4) Shares are held by Mr Nathan Mitchell or entities associated with him.

Angus Karoll
Chairman
WestSide Corporation LImited
T: +617-3020-0900
F: +617-3020-0999
http://www.westsidecorporation.com

WestSide Corporation Limited (ASX:WCL) WestSide Announces A$25.4 Million 2 for 5 Capital Raising

newsroom@abnnewswire.net — Thu, 8 Mar 2012 09:53:00 GMT

WestSide announces 2-for-5 Entitlement Offer to raise A$25.4 million
Not for release or distribution in the United States

WestSide Corporation Limited (ASX:WCL) today announces a 2-for-5 pro rata entitlement offer to shareholders at A$0.25 per new share to raise approximately A$25.4 million for working capital to meet its near-term growth aspirations across its various operations in Queensland ("Offer").

WestSide requires the funds to undertake the next stage of work at the Meridian SeamGas gas fields in Queensland's Bowen Basin. This work will be directed at maintaining and increasing gas production to supply existing and future customers. Some of the proceeds of the Offer will be invested in a field development feasibility study required for a Final Investment Decision to support possible new gas sales agreements. A portion of the proceeds will also be used to fund WestSide's joint venture share of exploration programs within its Bowen and Galilee Basin tenements.

WestSide's Executive Chairman Mr Angus Karoll said the WestSide Board believed the Offer represented an opportunity for existing investors to participate in.

WestSide's growth through the further development of the Meridian SeamGas business and the Company's exploration assets.

Preparations for the capital raising were initiated well before WestSide received the indicative, conditional, non-binding and confidential takeover proposal from Liquefied Natural Gas Limited ("LNG Limited") which the Company announced on 13 February 2012 ("Indicative Proposal").

As there is no certainty that the Indicative Proposal will result in a binding takeover offer or reach any conclusion in a desirable timeframe, the WestSide Board has formed the view that WestSide must proceed with this capital raising in order to continue its planned production, development and exploration programs. The WestSide Board considers that any delay to these programs could hamper WestSide's preparations to secure new gas sale contracts and ultimately be detrimental to shareholders.

The Offer is fully underwritten by RBS Morgans Corporate Limited. The key terms of the underwriting agreement are summarised in the annexure to this announcement.
ASX has granted a waiver of ASX Listing Rule 7.9 to the extent necessary to permit WestSide, without obtaining prior shareholder approval, to issue any shortfall from the Offer to shareholders who apply for additional shares under a top up facility or to any underwriter or sub-underwriter of the Offer. The grant of this waiver was conditional on WestSide providing written confirmation to ASX that LNG Limited does not object to the issue of the shortfall shares. WestSide has provided written confirmation of this to ASX.

Offer

The Offer will give existing eligible WestSide shareholders the opportunity to acquire 2 new fully paid ordinary WestSide shares for every 5 existing WestSide ordinary shares held at 7.00pm AEDT on Monday 19 March 2012 ("Record Date") at the issue price of A$0.25 per New Share. Eligible shareholders are those shareholders at the Record Date with a registered address in Australia, New Zealand or Indonesia.

The Offer price of A$0.25 represents a discount of approximately 47.9% to the closing price of WestSide shares on 5 March 2012 (the last trading day for WestSide shares before the Offer was announced) and a 47.5% discount to the 5 day VWAP up to market close on 5 March 2012. It also represents a discount of 39.7% to the theoretical ex-rights price based on WestSide's closing price on 5 March 2012.

The Offer price of 25 cents per share is a 61.5% discount to the price of A$0.65 per share referred to in the Indicative Proposal.

The WestSide Board has not formed a view, at this stage, as to the merits of the Indicative Proposal and there is no guarantee that a binding takeover offer will be received. The WestSide Board has attempted to set a price for the Offer which will be attractive to shareholders taking into account the uncertainty associated with the Indicative Proposal. The 25 cent Offer price represents a 26.5% discount to the closing price of A$0.34 on 10 February 2012 (the last day the shares traded on the ASX before the Indicative Proposal was announced on 13 February 2012) and a 19.9% discount to the 5 day VWAP up to market close on 10 February 2012.

The Offer is non-renounceable, which means that rights may not be traded or otherwise transferred if shareholders do not wish to take up some or all of the new shares to which they are entitled.

As an indication of the level of support for WestSide and its prospects, shareholders New Hope Corporation Limited (through its wholly owned subsidiary Uniford Pty Ltd) ("NHC"), ANZ Specialist Asset Management Limited in its capacity as trustee and responsible entity for the Energy Infrastructure Trust ("EIT")(See Note 1) and Nathan Mitchell (See Note 2), who hold in aggregate 35% of the Company's issued capital, have indicated they will take up 100% of their entitlements under the Offer. In addition, NHC has agreed to sub-underwrite part of the Offer.

Shareholders who take up their full entitlement will be able to apply for additional shares at the same issue price under a top up facility.(See Note 3)
New shares issued under the Offer will rank equally with existing fully paid ordinary shares on issue.

Dates and times are indicative only and subject to change without notice.
An Offer Booklet containing further details of the Offer will be released to the ASX, posted on WestSide's website and despatched to all shareholders on or before 22 March 2012.

1 Shares are held by EIT's nominee, JP Morgan Nominees Australia Limited (Cash Income A/C).
2 Shares are held by Mr Nathan Mitchell or entities associated with him.
3 There is no guarantee of the number of new shares (if any) that will be available to shareholders under the top up facility, in addition to their entitlement under the Offer.

For the full release including Timetable, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-WCL-240329.pdf

WestSide Corporation Limited
T: +61-7-3020-0900
F: +61-7-3020-0999
WWW: www.westsidecorporation.com

WestSide Corporation Limited (ASX:WCL) Identity of Potential Acquirer

newsroom@abnnewswire.net — Fri, 2 Mar 2012 16:16:00 GMT

WestSide Corporation Limited (ASX:WCL) has been monitoring media speculation and commentary regarding the identity of the unrelated party ("Potential Acquirer") referred to in the Company's ASX announcement on 13 February 2012: Notification of Approach.

The Board has subsequently determined that based on recent media articles the identity of the Potential Acquirer can no longer be considered confidential between WestSide, the unrelated party concerned and their respective advisers. Accordingly, WestSide now advises that the indicative, conditional, non-binding and confidential proposal to acquire all of the shares in WestSide for cash consideration of $0.65 per WestSide share ("Indicative Proposal") was received from LNG Limited (ASX:LNG). WestSide further advises that LNG Limited's Indicative Proposal involved financial backing from reputable international parties.

WestSide has entered into a confidentiality agreement with LNG Limited and granted due diligence access on a non-exclusive basis.

LNG Limited has only recently begun its due diligence. It should be noted that the due diligence process may take some time and there can be no certainty that a binding offer will be made once LNG Limited has completed its due diligence.

The Board of WestSide is committed to maximising value for shareholders and, if it determines that doing so would be in the best interests of shareholders, the Board may grant other parties due diligence access.

The Board of WestSide continues to assess the Indicative Proposal alongside other strategic options available to the Company. The Board has not formed a view, at this stage, as to the merits of the Indicative Proposal and continues to recommend that shareholders take no action in relation to the Indicative Proposal.

WestSide Corporation Limited
T: +61-7-3020-0900
F: +61-7-3020-0999
WWW: www.westsidecorporation.com

Asian Activities Report for January 16, 2012: China Southern Airlines (HKG:1055) Eyes on Australia

newsroom@abnnewswire.net — Mon, 16 Jan 2012 13:05:43 GMT

China Southern Airlines (HKG:1055) (SHA:600029) has become a major international sponsor and the official airline for Sydney Festival 2012, which opens from 7 January to 29 January 2012 in Sydney. China Southern Airlines is the first Chinese company to sponsor Sydney Festival, Australia's most vibrant summer festival of arts and performances. The sponsorship worth A$600,000, is part of China Southern Airlines' strategic expansion in the Australian market. The Company has been flying into Sydney for over 10 years, with additional flights to Melbourne and Brisbane and a new direct Perth service added in 2011. It is currently offering Australians flights into China and 132 cities worldwide.

Hisense Group (SHA:600060) was honored with the "Value Innovation Award" for its I'TV2 product at the International Consumer Electronics Show (CES) in Las Vegas on January 10th. This is the first time a Chinese enterprise has secured the highly competitive CES award. Hisense' I'TV has become a very popular product in China since it was launched at the end of 2011. It is the world's first personalized Smart TV, built specifically as a tablet but with all the functions of a TV.

Chiyoda Corporation(TYO:6366) says that its joint venture company with JGC Corporation (TYO:1963) and Kellogg Brown & Root has been awarded an engineering, procurement and construction ("EPC") contract for the Ichthys LNG plant facilities in Australia. The overall EPC contract value is expected to be around US$15 billion. The Ichthys LNG project is an integrated natural gas field development project, which will produce 8.4 million tonnes of LNG, approximately 70% of which is to be delivered to Japan.

Bridgestone Corporation (TYO:5108) has developed a revolutionary new printing technology for tires that is different from any tire printing or coloring process on the market today. Through this new technology, Bridgestone can realize the more creative showcase of tires while also considering environmental concerns such as fuel efficiency, without any additional weight to the tire. Bridgestone plans to quickly bring this tire printing technology to market.

Elecom Co., Ltd. (JASDAQ:6750) has unveiled its latest USB products, which features a function for encrypting stored data through a strong encryption algorithm called AES 256 bit. In addition, the USB products have superb security function, embedded with anti-virus program Trend Micro USB Security(TM) 2.0, which can protect the data on flash drive and PCs that it connects to.

Qiubei Fu
Asia Business News
Tel: +61-2-9247-4344
http://www.abnnewswire.net

Asian Activities Report for January 11, 2012: Weichai Power (HKG:2338) Acquires 75% Controlling Interest in Italian Luxury Yacht Maker Ferretti Group

newsroom@abnnewswire.net — Wed, 11 Jan 2012 13:00:45 GMT

Weichai Power (HKG:2338) (SHE:000338) has agreed to invest 374 million euros to acquire a controlling 75% interest in the world's largest luxury yacht manufacturer, Ferretti Group of Italy. Through the acquisition, synergies between Weichai Power and Ferretti will be unleashed through the sharing of resources and industrial integration. Weichai will be better positioned to develop its yacht business for the next five years, whilst Ferretti will enjoy a strong capital base to expand its business in emerging markets such as China. After the acquisition, Ferretti's key management team, headquarters and production bases in Italy will be retained.

Prada S.p.A. (HKG:1913) says that it will invest 40 million euros to sponsor the Luna Rossa yacht to participate in the XXXIV edition of the America's Cup sailing competition. Prada's logo will be displayed on the hull and other eye-catching part of the yacht during the competition, and Prada will have the right to use images of the Luna Rossa yacht and its crew for advertising purposes. The Company's sponsorship of the Luna Rossa yacht in previous editions of the America's Cup has proven that it has been a successful strategy to promote Prada's brand.

Japan-based oil and gas company Inpex Corporation (TYO:1605) has signed agreements to sell liquefied natural gas ("LNG") from its Ichthys LNG joint venture project. Under the agreements, 2.52 million tonnes per annum of LNG will be sold to CPC Corporation of Taiwan, Chubu Electric Power (TYO:9502), and Toho Gas (TYO:9533), for 15 years commencing in 2017.

Panasonic Corporation (TYO:6752) (NYSE:PC) has successfully developed a 20-inch 4K2K (3,840 x 2,160 resolution, approximately 8.29 million pixels) IPS Alpha LCD panel. The new panel has the world's highest pixel density of 216 pixels per inch, with thickness of only 3.5 mm, the thinnest in the world, opening up new possibility of flat-panel displays.

Nidec Corporation (TYO:6594) (NYSE:NJ) has established a new subsidiary named Nidec Management Shanghai Corporation in Shanghai, China. The new subsidiary will supervise, control and coordinate the financial activities of the Nidec Group companies in China. The total investment in the new subsidiary is US$2 million.

Qiubei Fu
Asia Business News
Tel: +61-2-9247-4344
http://www.abnnewswire.net

Asian Activities Report for December 20, 2011: Sharp (TYO:6753) to Sell 90-Inch LCD TVs in USA in 2012

newsroom@abnnewswire.net — Tue, 20 Dec 2011 12:19:14 GMT

Sharp Corporation (TYO:6753) is planning to sell 90-inch LCD TVs - its largest LCD TV product in the US market in 2012. Sharp is already selling 80-inch LCD TVs in the USA, and is currently the leader in the country in the large-size LCD TV market. The Company is also planning to introduce their 80-inch LCD TVs in China and Japan in the first half of 2012; Sharp is already selling their 70-inch products in both countries.

Sinopec Kantons Holdings Limited (HKG:0934) and China Shipping Development (HKG:1138) have signed an agreement to form a joint venture company in Hong Kong to build around five liquefied natural gas (LNG) vessels for the transportation of approximately 4.30 million tonnes of LNG per annum for the APLNG project. Under the APLNG project, the Australia Pacific LNG Processing PTY Limited is expected to sell 4.30 million tonnes of LNG per annum to Sinopec Corp (HKG:0386) for a period of 20 years commencing from 2015.

Mikuni Corporation (TYO:7247) says that its car parts manufacturing plant in Thailand has recovered part of its production ability, with operation recommenced on December 12th. The plant was shut down on October 11th due to local floods. It is expected that the plant will be brought back to full operation shortly.

Qiubei Fu
Asia Business News
Tel: +61-2-9247-4344
http://www.abnnewswire.net

FINANCE VIDEO: Liquefied Natural Gas Limited (ASX:LNG) Chief Executive Officer Maurice Brand Presents to Sydney Capital Markets at Investorium.tv

newsroom@abnnewswire.net — Wed, 9 Nov 2011 17:36:01 GMT

FINANCE VIDEO: Liquefied Natural Gas Limited (ASX:LNG) Chief Executive Officer Maurice Brand presented live to the Sydney Capital Markets at Investorium.tv, regarding securing market leadership in the mid-scale LNG sector and satisfying the needs of customers on a competitive and reliable basis.

Maurice Brand is the founder, Managing Director and Chief Executive Officer of the Company, which listed on the ASX in September 2004.

Liquefied Natural Gas Limited has introduced to the LNG industry a fast track and innovative approach to the establishment of mid scale LNG plants which are cost competitive with larger traditional scale LNG plants.

Maurice has extensive experience in the global energy industry spanning 25 years and has been responsible for energy related projects in Australia, Indonesia and India.

To view the LNG Limited Presentation at Investorium.tv, please visit:
http://abnnewswire.net/lnk/7D776TZ3

Maurice Brand
Managing Director
Liquefied Natural Gas (LNG)
Tel: +618-9366-3700
Fax: +618-9366-3799
http://www.lnglimited.com.au

Asian Activities Report for October 7, 2011: Blue Energy (ASX:BUL) Further Increase Coal Seam Gas Potential in Bowen Basin

newsroom@abnnewswire.net — Fri, 7 Oct 2011 11:30:13 GMT

Blue Energy Limited (ASX:BUL) has successfully drilled its Monslatt 9 coal seam gas well in Bowen Basin, Queensland, reporting high gas content of up to 25 cubic metres per tonne and thick coal seams of up to 4 metres. The results further reinforce the potential of the Monslatt Block as a significant gas resource. The Company is targeting 3,000 petajoules of 3P gas reserves by year end 2014.

CBD Energy Limited (ASX:CBD) has signed an agreement to acquire energy retailer Neighbourhood Energy. Neighbourhood Energy currently has 65,000 customers, focusing on the Victorian market. The acquisition will give CBD a platform for retail distribution of solar, wind and energy efficient products. This acquisition, along with CBD's alliance with two of China's largest renewable energy companies, will put CBD in a position to begin to challenge the larger participants in Australia's energy markets.

Energy World Corporation Limited (ASX:EWC) has signed a Memorandum of Understanding with the East Java Provincial Government in relation to the development and construction of a Liquefied Natural Gas Import Receiving Terminal and associated facilitates in East Java, Indonesia. The project is capable of processing up to 3 million tonnes per annum of liquefied natural gas, expected to solve the gas supply shortage in East Java.

TVN Corporation Limited (ASX:TVN) has revised its Exploration Target for the Target Resource Area in the south western portion of the Nuurst licence to 200-300 million tonnes of thermal coal. This Target Resource Area represents less than 15% of the Nuurst Coal Project Licence area in Mongolia. The Company intends to produce a JORC Mineral Resource estimate over the Target Resource Area by the end of the calendar year 2011.

Asia Business News
Tel: +61-2-9247-4344
http://www.abnnewswire.net

Asian Activities Report for September 28, 2011: Fletcher Building (ASX:FBU) Announce Major Supply Contract for the Queensland Coal Seam Gas Market

newsroom@abnnewswire.net — Wed, 28 Sept 2011 12:02:16 GMT

Fletcher Building Limited (ASX:FBU) said today that Iplex Pipelines, which was recently acquired by Fletcher Building, has been awarded a A$120 million contract for the supply of polyethylene pipe to QGC Pty Limited ("QGC") for its Queensland Curtis Island LNG Project. This is a priority project of QGC, a British Gas Group business, to develop Queensland coal seam gas for Australian and international markets.

Integra Mining Limited (ASX:IGR) reported aircore drilling results from reconnaissance drilling in the Mt Monger area. Re-assay of the original samples returned 6 metres at 44.26 g/t gold including 4 metres at 65.40 g/t gold. Follow-up aircore drilling is in-progress to further define targets for deeper RC drilling.

African Iron Limited (ASX:AKI) provides an update on drilling activities at its 92%-owned Mayoko iron ore project in the Republic of Congo. Drilling capacity has now been increased comprising three reverse circulation and two diamond drill rigs. Interim JORC resource update is expected to be released by the end of October.

Alchemia Limited (ASX:ACL) said today that its leading cancer product HA-Irinotecan has received very promising trial results in a Phase II clinical study. Two lung cancer patients have experienced substantial shrinkage of their tumours after only ten days. The current study is examining the effectiveness of HA-Irinotecan, which utilises Alchemia's patented HyACT(R) technology. A Phase III study in colorectal cancer is expected to commence in 2011.

Tata Communications (BOM:500483) has become one of the few global carriers to extend its global IP/VPN service offerings into Pakistan, through a collaboration with Multinet Pakistan Private Limited. The collaboration now makes Tata Communications the largest global Ethernet provider in the world.

Asia Business News
Tel: +61-2-9247-4344
http://www.abnnewswire.net

Dart Energy Limited (ASX:DTE) Commenced Operations at the Dajing Production Sharing Contract Project in China

newsroom@abnnewswire.net — Thu, 8 Sept 2011 08:30:40 GMT

Dart Energy Limited (ASX:DTE) has commenced drilling activities at the Dajing project in Xinjiang Province, China, with the spudding of the first two exploration wells (DJD-02E and DJD-10E). This is part of an initial exploration program which will see a total of up to 14 exploration wells drilled prior to year end, and assuming no program delays, Dart would expect first core drilling results to be available in the first quarter of 2012.

This follows approval in August of the 2011 exploration program and budget by the Dajing Joint Management Committee (JMC). The JMC is comprised of representatives of both Dart and its partner at Dajing, China National Petroleum Corporation (CNPC).

In addition to the spudding of the first wells, the following other activities have been completed at the Dajing project:

- 4 drilling rigs have been mobilised to site

- 3 on-site desorption units and 2 permeability testing units have been mobilised to site

- 3 work camps established on-site

- Site and road construction for 2 other exploration wells has been completed (DJD-O1E; DJD-O4E), with those wells expected to be spud within the next week

Nick Davies, Dart Executive Chairman, said: "We are now operationally underway at Dajing, which is a major milestone for Dart. Dajing has the potential to be a project of substantial scale within the Dart global portfolio, and our attention is completely focussed on executing the exploration drilling campaign diligently, quickly and safely. Dart Energy looks forward to working collaboratively with our partner, CNPC, to unlock the potential of this block".

Mr Nick Davies
Executive Chairman 
Tel: +65-6508-9840

Mr Nathan Rayner 
Chief Operating Officer 
Tel: +65-6508-9840

Mr Eytan Uliel 
Chief Commercial Officer 
Tel: +65-6508-9840