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Zane Grey oil well turns to pulp fiction.(Bass Strait Oil Company Ltd.)(Brief Article)

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From: Australasian Business Intelligence
Date: 20050314
Author:Wilson, Nigel

Mar 14, 2005 (The Australian - ABIX via COMTEX)

The share price of Australian mining company, Bass Strait Oil, has been affected by a disappointing well. The Zane Grey-1 well was drilled in late January 2005. The company said that it had the potential to contain 134 million barrels of recoverable oil. It reported gas and oil shows. However, on 14 March, it announced that it had found no zones of commercial significance. The company's share price has experienced a lot of movement since January. On 14 March, it fell by 59 per cent to close at $A0.30, with about 45 per cent of ...

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