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LOD (LODESTONE EXPLORATION LIMITED) 2010-03-01:
Lodestone Energy announced that further to previous announcements in relation to the Tranche 2 investment by Square Resources' in Lodestone Energy, its right to invest in Tranche 2 has expired on 1 March 2010. As a result of the recent market correction, Square Resources has announced that it will not exercise its right to invest in Tranche 2 of the proposed placement, following its initial investment in Lodestone in late 2009. Notwithstanding the proposed Tranche 2, Lodestone confirms that it has sufficient funds to complete its current coal and gas drilling programs within the Tambo Coal & Gas Project.