Pure Energy Resources

NSW coal seam gas explorer Magnum Gas & Power has appointed Thomas Fontaine as non-executive chairman, following the retirement of Edward Ellyard, who has been in the role since end-2011.

Perth-headquartered Pure Energy Resources shares have surged as much as 29 per cent after BG Group launched a $796 million takeover bid for the coal seam gas explorer.

Shares in Perth-based resource companies Monarch Gold Mining Company Ltd and Pure Energy Resources Ltd have been placed in a trading halt.

South Perth-based Pure Energy Resources Ltd has been named the preferred tenderer for two Queensland coal seam gas permits, and will hold both the CSG and rights on granting of the permits, the company has announced.

Advise that 1,450,000 Fully paid ordinary shares will be released from escrow on June 7 and 1,000,000 on June 9.

Sandhurst Trustees became a substantial shareholder with a relevant interest of 345,000 ordinary shares (5.23%).

South Perth-based Pure Energy Resources Ltd has announced plans to farmin with its major shareholder Arrow Energy NL on one of its largest Queensland coal seam gas tenements.