Oil and gas explorer Drillsearch Energy Ltd
(ASX:DLS) has announced a significant increase in the prospective resource potential of its Western Cooper Unconventional Gas Project.
The company upgraded the prospective resource estimate for its acreage in the western Cooper basin to between 9.9 trillion and 19.9 trillion cubic feet of gas.
The company says the upgrade is based on reviews of 450 wells drilled in the area.
Drillsearch says the potential of these unconventional gas prospective resources gives the company confidence in focusing investment targeting gas resources in the Cooper Basin.
The company says the potential of these unconventional gas resources also adds another dimension to Drillsearch’s investment in the Western Cooper Gas & Liquids Project.
Drillsearch posted a loss for the 2009 financial year.
