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ABN Newswire Stocks to Watch: January 29, 2010
ABN Newswire Stocks to Watch: January 29, 2010
Sydney, Jan 29, 2010 AEST (ABN Newswire) - Otto Energy Limited (ASX:OEL) (PINK:OTTEF) said that the Kumluk-1 exploration well reached a total depth of 550 metres (m). After logging of this well, net pay of a total of 9m over three intervals was interpreted. These results are in line with pre-drill estimates. This continues the 100% exploration drill success that Otto has experienced in our Edirne licence area.

Focus Minerals Limited (ASX:FML) has released its quarterly activities report for the period ended 31 December 2009. Revenue for the Quarter was A$14.95 million generated from the sale of 13,024 ounces of gold at an average price received of A$1,147.46/oz. Production of its Coolgardie Gold Project during the December Quarter was 86,418 tonnes at 3.84 g/t. During October 2009 Focus completed an A$8m capital raising via a share placement to institutional investors.

Texon Petroleum Limited (ASX:TXN) said on Thursday it plans to commence drilling the first Mosman-Rockingham ("MR #1") well in late February. MR #1 lies some 8 kilometres (5 miles) south of the Leighton Field and will be drilled to a depth of 3,414m (11,200ft) to test the Olmos and Eagle Ford reservoirs, both of which are oil and gas productive in nearby wells.

Dynasty Metals Australia Limited's (ASX:DMA) Stage 2 Reverse Circulation (RC) drill holes, MMRC016 to MMRC029 were designed to get a better understanding of the mineralisation in Marra Mamba. The results confirm that the intercepts of Marra Mamba Iron Formation to date have been iron-rich with calcined in-situ grades ranging from 55% Fe to 65% Fe, and showing low concentrations of phosphorous, typically 0.04% to 0.07% P.

Mission NewEnergy Limited (ASX:MBT) (PINK:MIBFF) said the German Federal Agency for Agriculture and Food "BLV" has approved the International Sustainability and Carbon Certification system "ISCC" as the first recognized voluntary biofuels standard to comply with the requirements of the German BioNachV legislation. This legislation stipulates rigorous sustainability and carbon savings requirements for liquid biofuels used in Germany for road transport and electric power generation.


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

Related Companies

Texon Petroleum Ltd       
Otto Energy Limited         
Mission NewEnergy Limited              
Focus Minerals Ltd       
Dynasty Resources Limited       

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