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Date: Monday 06 Oct 2008

LONDON (ShareCast) - Video search engine company blinkx has withdrawn its proposal to buy online advertising business MIVA Inc for $39m.

The UK firm had proposed a $1.20 a share cash offer for Nasdaq-listed MIVA in August, but said today the deal had been scuppered by the MIVA board’s reluctance to play ball.

Boss and founder of blinkx, Suranga Chandratillake, said MIVA chief’s had not engaged “in substantive discussions in any material respect”.

Oil and gas explorers Gulfsands Petroleum and Emerald Energy said drilling operations have begun on the Yousefieh-1 exploration well in Block 26 in North East Syria.

The well is designed to evaluate the potential of a newly identified play type within the Cretaceous reservoir system. Each company owns a 50% working interest in Block 26. They expect drilling operations to complete within 45 days.

The legalisation of gaming in Taiwan is imminent, AMZ Holdings said as it reported progress in its development of a five star resort at Penghu.

The company has received approval from the island’s authorities to develop the resort and is now looking for a gaming company to develop and operate a casino on the site.

“The company believes that legalization of gaming in Taiwan is imminent and should occur within the next session of the Legislative Yuan,” chairman David Mathewson said.

AMZ, which does not yet have any revenues, saw pre-tax losses in the year to May 31 narrow to £1.6m from £2.4m the previous year.

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