Ann: Encounter-1 Drilling Update , page-9

Stole this from BPT thread

From Energy Intelligence:

WORLD WATCH

Australia is blazing a trail in developing LNG capacity based on coalbed methane, but could it be about to do the same with shale gas? Local minnow Beach Energy is currently testing the shale gas potential of the country?s onshore Cooper Basin and has reported ?encouraging? results from its Encounter-1 well. Beach believes the basin could hold 200 Tcf of gas-in-place, and has already signed a preliminary deal with Japan?s Itochu to supply shale gas to an as-yet-unidentified Australian LNG plant. Australia faces competition in the race to become the world?s first exporter of shale gas-derived LNG, from Canada?s proposed Kitimat LNG scheme, and from the US, whose own shale gas boom could yet translate into LNG exports via Cheniere?s Sabine Pass terminal. But even if it is not the first, Australia could ultimately be the biggest, thanks to its proximity to China and other gas-hungry Asian markets. Jim Washer, London