EXPLORATION

Icon snaps up Gippsland block

ICON Energy believes it has won the bidding for an exploration block in the onshore Gippsland Basin, Victoria, which it predicts is highly prospective for tight gas.

Company managing director Ray James said block VIC/G-10(5), which would be awarded as PEP 170, could produce from tight gas reservoirs with the right development option. "It is also prospective for oil...

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