Austin Exploration Limited (ASX:AKK) (OTCQX:AUNXY) today announce that internationally respected petroleum industry executive, Mr Richard Cottee, will join the Company's Board of Directors as Non-Executive Chairman, effective 24 February 2012.
Global coal seam gas company Dart Energy Limited (ASX:DTE) is pleased to announce that it has agreed to acquire the 90% of Composite Energy Limited ("Composite") that it does not already own for approximately US$46.7 million. The consideration will be satisfied by way of issue of approximately 35.9 million new Dart shares to the current shareholders of Composite and the issue of approximately 5.6 million new Dart-J Class options to existing Composite optionholders.
Bow Energy Limited (ASX:BOW) (PINK:BOWYF) are pleased to provide an update on exploration, appraisal and pilot production program in Bow's Bowen Basin CSG tenements. So far this year, Bow operations have been delayed over three months due to wet weather, which resulted in limited access, unsafe conditions and unscheduled delays in our reserves certification. Regardless, Bow's aggressive drilling and testing programs scheduled over the current quarter are targeting to deliver upon Bow's continued reserve upgrades from early next year.
WestSide Corporation Limited (ASX:WCL) and joint venture partner Mitsui E&P Australia Pty Ltd (MEPAU) have emerged as a new force in Queensland coal seam gas (CSG) after today finalising their acquisition of the Dawson CSG fields.
Wall Street overnight fell on the unexpected drop of the private sector employment data, which raised investors' concern over the key nonfarm payroll figures to be released on Friday. Asian markets were mostly lower Wednesday. Japan's Nikkei index closed slightly lower with a 0.1 per cent fall on the last day of the current fiscal year for most Japanese companies. China's Shanghai Composite and Hong Kong's Hang Seng Index both lost 0.6 per cent. Today China is due to release PMI figures for the manufacturing sector.
Wall Street's rallies overnight provided a positive lead to Asian markets on Wednesday. Dow and S&P 500 Tuesday surged to 18-month highs led by blue-chip industrial stocks. Nasdaq was also buoyed by signs of improved semiconductor market. Asian markets closed mixed on Tuesday. Energy shares in the region rose after the price of crude oil rebounded above US$81 a barrel on the New York Mercantile Exchange. Japan's Nikkei 225 fell nearly 0.5 per cent due to stronger yen against euro. China's Shanghai Composite lost 0.7 per cent. But South Korea's Kospi gained 0.6 per cent. Hong Kong's Hang Seng Index advanced 0.3 per cent.
AUDIO: Westside Corporation (ASX:WCL) CEO, Angus Karoll Speaks with Brian Carlton On Joint Venture with Mitsui LNG
The Australian shares were marginally lower on Friday. On Friday the benchmark S&P/ASX200 ended 10.9 points, or 0.3%, lower at 3769.6, while the broader All Ordinaries fell 6.8 points, or 0.2%, to 3737.9.
Yesterday the Australian shares closed slightly lower as falls in financial stocks overshadowed the gains in big miners. The benchmark S&P/ASX200 index was down 0.1%, or 5.4 points, at 3747.5, while the broad-market All Ordinaries index fell 0.1%, or 4 points, at 3693.9.
Queensland Gas Company's former Managing Director, Richard Cottee, has been recognised as a 'legend' of the Australian oil and gas industry after being awarded the title at the Legends in Oil and Gas awards function held in Sydney.
