fom DLS recent quarterly, note the last sentence!!!
Unconventional Gas Business Drillsearch is currently undertaking seismic mapping of the area around ATP 940P in order to map the Roseneath, Epsilon and Murteree (REM) shale sections. The Company will continue to follow the ?Look, Listen and Learn? approach to shale gas in the Cooper-Eromanga Basin. Drillsearch is encouraged by the performance of companies operating in neighbouring locations, in particular the recent results announced by Beach Energy with regard to the testing of their Holdfast well in PEL 218 which borders Drillsearch?s ATP 940P permit to the north-west. Drillsearch?s activity and investment is targeted to the ?EAD Life Cycle? being exploration, appraisal and delineation and accordingly the Company continues to assess all its options for developing this asset including the potential to involve a Joint Venture or strategic partner to further the development and commercialisation of its significant unconventional resources.
ADE Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
