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Shares rise as gas flows

SHARES in Austin Exploration leapt 31% to close 1c higher yesterday, at 3.2c, after it announced oil and gas was flowing naturally to the surface at its first horizontal well in the Niobara formation.

The well is in Colorado at the company's Pathfinder project. The company had to install new equipment to deal with higher than expected gas flows, which exceeded the capacity of the flaring equipment...

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