Beach shares rise 7.5% on shale gas results

Shares in Beach Energy rose after it reported positive results from its shale gas exploration program in the Cooper Basin.
Beach shares were up 6 cents, or 7.41 per cent, at 87 cents early this afternoon.
Beach said drilling at its Encounter-1 well, the first of a two well shale gas exploration program, had penetrated the Roseneath-Epsilon-Murteree shale formations, which proved significantly thicker than expected.
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Source:  The Sydney Morning Herald