Sydney - Wednesday - Oct 26: (RWE Australian Business News)...

Sydney - Wednesday - Oct 26: (RWE Australian Business News) -

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Some share price moves to keep an eye on in the market:

BILLABONG INTERNATIONAL (BBG) up 51c to $4.42: Rose 31c yesterday. Rapidly returning to favour in the market after news of a 24.7pc rise in first-quarter sales, in constant currency terms.

CHALLENGER ENERGY (CEL) down 3.1c to 6.4c: A lateral well in the Ellenburger formation at the Triple Crown Prospect in the US has been completed with zones of interest successfully intersected and tested. No commercial gas flow was observed.

NEW STANDARD ENERGY (NSE) down 6c to 30c: Plumbed 28.5c after announcing a $27m placement and $4m SPP, both at 30c a share.

INSURANCE AUSTRALIA GROUP (IAG) up 3c to $3.15: Told the AGM it was on track to deliver its full-year guidance of an improved insurance margin of 10-12pc and gross written premium growth of 6-9pc.

STRZELECKI METALS (STZ) down 0.7c to 2.2c: Has decided that it will not proceed with the acquisition of a 72pc interest in the Kara Keche Centralny coal deposit in Kyrgyzstan.

OIL BASINS (OBL) up 0.1c to 2.3c: A practical 'new' rapid development hub Extended Well Test concept may lead to greatly improved economics allowing the development of the Cyrano Oilfield (offshore Carnarvon Basin, WA) within a modest risked capital of circa $US30m.

PAPILLON RESOURCES (PIR) up 0.5c to 59c: The remaining drill intercepts on the Fekola project from RC drilling completed in July reinforce the continuity of mineralisation along strike, provide more information on the width of the mineralisation and identify new targets.

CERRO RESOURCES (CJO) up 0.5c to 16.5c: Rose 1c yesterday after releasing drill results with significant high-grade silver, lead and zinc mineralisation intercepted at the Namiquipa Silver Project in Chihuahua, Mexico