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ABN Newswire Stocks to Watch: February 8, 2010
ABN Newswire Stocks to Watch: February 8, 2010
Sydney, Feb 8, 2010 AEST (ABN Newswire) - Emergent Resources Limited (ASX:EMG) announced extremely positive results from its recent diamond core testwork program at its Beyondie Iron Project in Western Australia's Mid West region. Testwork by way of Davis Tube Recovery (DTR) from diamond drill core from the Beyondie Project has confirmed the potential to produce a high-grade Direct Reduction (DR) quality magnetite concentrate with exceptionally low level detrimental impurities.

Benitec Limited (ASX:BLT) (PINK:BNIKF) licensee company Tacere Therapeutics, Inc. said that Pfizer (NYSE:PFE) has exercised the option, granted in a collaboration and license agreement previously announced in January 2008, to further develop and commercialise Tacere's Hepatitis C Virus (HCV) compounds.

Legend Mining Limited (ASX:LEG) (PINK:LGDMF) releases preliminary data from its aeromagnetic survey over the Ngovayang area at its Cameroon Project, West Africa. The results have identified the occurrence of itabirite (magnetite-bearing metasediments) on a larger scale than previously known information indicated, confirming the iron ore prospectivity of the Ngovayang Project. Numerous structural targets for direct shipping ore (DSO) are also evident throughout the Project Area.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) said that first commercial oil production has commenced at the Chiton Oil Field located in PEL 91 in the Western Flank Oil Fairway. The Chiton Oil Field is the first commercial oil discovery in PEL 91 and is owned by Drillsearch (60%) and Beach Energy Ltd (40% and operator). Chiton is a major project for Drillsearch and could potentially increase the Company's annual oil production by 200% in the near term.


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

Related Companies

Pfizer Inc.          
Legend Mining Limited             
Emergent Resources Limited       
Drillsearch Energy Limited         
Benitec Biopharma Limited       

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