Beach Petroleum ups reserves in central Queensland 11:54, Wednesday, January 16, 2008
Sydney - Wednesday - January 16: (RWE Aust Business News) - Beach Petroleum (ASX:BPT) has increased coal seam gas reserves at the Tipton West field in central Queensland. Proven reserves are up 560pc to 167 petajoules at Tipton West while probable reserves (2P) for the Surat Basin have risen to 293PJ. Total 3P reserves for Tipton are now 2316PJ. Beach has a 40pc interest in Tipton West with Arrow Energy (ASX:AOE) holding 60pc. "This substantial reserves upgrade is in line with Beach Petroleum's confidence in the potential for expansion of the Tipton Field and associated coal seam gas reserves in the Surat Basin," managing director Reg Nelson said. ENDS
BPT also positive on Surat Basin.
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