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AUSTRALIA

Beach in shale bonanza

BEACH Energy has booked initial contingent resources of 2 trillion cubic feet of gas for its PEL 218 shale gas exploration program in the Cooper Basin following the stunning success of its Holdfast-1 well.

Beach in shale bonanza

This equates to more than 330 million barrels of oil equivalent or about five times Beach's June 30, 2010 reserves figure and is based on the gas flows following successful fracture stimulation of the...

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