Beach Energy Ltd (ASX: BPT, ?Beach?) has completed its internal assessment of the resource potential of the Holdfast-1 and Encounter-1 vertical shale gas wells with the booking of an initial gross contingent resource of 2 trillion cubic feet (?TCF?) of sales gas. While PEL 218 (Beach 90%) is approximately 1,600km2 in size, this resource booking has been constrained to areas of 100km2 around each of the two purpose drilled shale gas evaluation wells. Data collected to date indicate the shales are continuous across the PEL 218 acreage.
ADE Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
