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Beach Energy Limited to Accelerate Unconventional Gas Drilling In Austraila
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Beach Energy Limited (“Beach”, ASX: BPT) and Icon Energy Limited (“Icon”, ASX: ICN) have agreed to leverage off Beach’s PEL 218 success to date by initiating the unconventional exploration program in the ATP 855P permit with a vertical exploration well. The Joint Venture plan to commence the unconventional shale and basin centred gas exploration program in ATP 855P in July 2012.
Over the past twelve months, Beach has delivered excellent results from its Cooper Basin Nappamerri Trough unconventional exploration program in PEL 218.
These results have included:
Flowing gas from two vertical delineation wells, Holdfast-1 and Encounter-1; Holdfast-1 gas rate of up to 2 MMscfd and Encounter-1 at a combined rate of over 2 MMscfd, with both wells only accessing the top 50 metres of the 500-600…- ✓ Full news archive — U.S., Canada & international coverage
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