Asian Activities Report for August 10, 2011: Eureka Energy (ASX:EKA) Completes the First Well at Pan de Azucar Eagle Ford Shale Project in USA

Eureka Energy Limited (ASX:EKA) provided an update on the Black Jack Springs Unit-1H well, the first well at its Pan de Azucar Eagle Ford Shale project onshore Texas, USA. The well was drill completed and produced an average of 460 barrels of oil equivalent per day over an initial 10 day period. The Company plans to drill a second Black Jack Springs well before the end of the year.

Desert Energy Limited (ASX:DSN) reported on its second RC drilling campaign on iron ore targets at its Camel Hills Joint Venture project in Western Australia. Several thick intersections of magnetite iron were reported with best results including 60 metres at 33% Fe. In addition, a highly significant new copper/gold discovery was found at the Dalgety copper-gold tenement. The company has commenced follow-up work on these new discoveries.

Maverick Drilling and Exploration Limited (ASX:MAD) reported a potential new oil field discovery from its Santa Rosa well #43 in Texas. The well flowed initially at an average rate exceeding 60 barrels of oil per day and is the first sustained oil production from the Cap Rock formation at the Blue Ridge Salt Dome. The Company has commenced production testing for this new discovery, as it has the potential to impact the size of Maverick's reserves.

IMX Resources Limited (ASX:IXR) announced a 139% increase in the Cairn Hill Phase 2 resource, located immediately east of the Cairn Hill iron-copper-gold mine in South Australia. The combined Indicated and Inferred Mineral Resource for the area is 8.37 million tonnes at 46.7% Fe. Mine planning and optimisation studies are already underway to delineate the mineable in-pit resources, with the aim of bringing this resource into production in the first calendar quarter 2012.

TAKE Solutions (BOM:532890), an Indian-based technology solutions leader in the supply chain management and life sciences domain, has extended the partnership with QlikTech (NASDAQ:QLIK), a leader in business intelligence software solutions. This alliance, which began in 2009 in the USA, will provide advanced business intelligence and business analytics to TAKE's Indian customers.


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