Antrim Energy Awarded an Additional North Sea Block- Block 21/24b

Antrim Energy Inc. ("the Company") (TSX:AEN) (AIM:AEY), today announces it has been notified by the UK Department of Energy and Climate Change (DECC) that it has been offered Block 21/24b in the UK North Sea as part of the 25th Seaward Licencing Round. The block, which was awarded to Antrim on a 100% working interest basis, is in the Company's core area around the Fyne Field in the Central North Sea. As announced in November of 2008, Antrim was previously awarded five blocks in the 25th Round, three of which are in the Fyne area.

Block 21/24b is approximately 10 kilometers northeast of the Fyne Field, and immediately adjacent to the Teal and South Teal Fields to the east, the Clapham and Guillemot Northwest Fields to the south and the Pict Field to the west. These fields all produce from either the Eocene Tay or the Upper Jurassic Fulmar Sandstones, and Block 21/24b is viewed to have potential in both of these formations.

Read more...

Teck Resources Announces C$1.74 Billion Private Placement

Teck Resources Limited ("Teck") (TSX:TCK.A and TCK.B, NYSE:TCK) announced today that China Investment Corporation ("CIC") has agreed to purchase through a wholly-owned subsidiary 101.3 million Class B subordinate voting shares of Teck for C$17.21 per share. Teck will apply the net proceeds of the transaction to reduce outstanding bank debt. On closing, CIC will indirectly hold approximately 17.5 per cent of Teck's outstanding Class B subordinate voting shares, representing approximately 17.2 per cent equity and 6.7 per cent voting interests in Teck. Upon completion of the transaction, Teck's Class A shareholders as a group will hold a 61.8 per cent voting interest in Teck with Temagami Mining Company Ltd. holding a 28.5 per cent voting interest.

Read more...

The disappointing release of June US non-farm pay roll has hurt the investors risk appetite strongly today causing a sell off in the equities markets as the data have shown adding 467k lost jobs out of the farming sectors and an increasing of the unemployment to 9.5% in June. It looks that the recovery is really halting and unreliable and the current economic situation can exacerbate. The unexpected huge amount of lost jobs because of this credit crisis show that the business confidence is still at a very low level and the pace of contraction can increase again and the demand is still weaker than spurring a growth. These new loses of the labor market can lead to a cautiousness of the consumers' spending which can dampen this sluggish demand which should bring growth again. S&P 500 could not close above 900 this time and Dow has lost 233 heading lower to complete the third consecutive week of loses since it has started its rebound on the 9th of Last March when it reached this year low at 6469 as today is off because of the US independence day.

Read more...

Intravenous COTI-2 in Combination with Doxil(R) (Doxorubicin HCl) is More Effective Than Treatment with Doxil Alone in an Animal Model of Human Ovarian Cancer

Critical Outcome Technologies Inc. (TSX VENTURE:COT), announced positive results today from combination agent animal experiments carried out at a prominent American cancer research facility. The results provide strong supportive evidence for the continued evaluation of COTI-2 in combination with conventional single agent therapy for the treatment of ovarian cancer:

- Tumor growth inhibition was significantly greater in the COTI-2 plus Doxil treated animals compared to the Doxil control group treated animals with:

-- 12.5 mg/kg COTI-2 + 2 mg/kg Doxil causing 57% tumor growth inhibition
-- 25 mg/kg COTI-2 + 2 mg/kg Doxil causing 54% tumor growth inhibition

Read more...

Gastar Exploration Announces Sale of Australian Assets for $240 Million

<< Also Announces 1-for-5 Reverse Share Split and Voluntary De-Listing from the Toronto Stock Exchange >>

Gastar Exploration Ltd. (NYSE Amex: GST and TSX: YGA) announced today that it has entered into definitive agreements with Santos QNT Pty Ltd and Santos International Holdings Pty Ltd, affiliates of Santos Ltd (ASX: STO) for the sale of all of Gastar's interest in Petroleum Exploration Licenses 238, 433 and 434 in New South Wales, Australia, along with the sale of the shares of Gastar Power Pty Ltd, the entity holding Gastar's 35% interest in the Wilga Park Power Station. Gross pre-tax proceeds from the transaction are expected to be approximately US $240 million (AU $300 million). Upon final closing, Gastar's net proceeds, after payment of Australian income taxes, is expected to be approximately US $175 million (AU $219 million).

Read more...