[LeftCoaster]

Some news out of BCs fledgling energy economy:

Nextraction announces results of shale study in Appalachian Basin in U.S.
By The Canadian Press

VANCOUVER, B.C. - Oil and gas company Nextraction Energy Corp. (TSXV:NE) says it may have almost one trillion cubic feet of shale gas at its properties in the Appalachian Basin in the U.S. Midwest.

Vancouver-based Nextraction said Tuesday that an independent U.S. firm did the evaluation of how much shale gas is expected to be in place.

"Our results clearly indicate the Devonian Shale gas opportunity extents into our area of interest," president Mark Dolar said in a news release.

"We are extremely pleased with the results of our drilling and investigation in this new part of the Appalachian Basin," Dolar said.

Nextraction said it plans to continue its drilling program, which includes completing three additional wells in 2010 and 25 wells by the end of 2011.

The Vancouver-based company targets projects with known reserves and said it's currently developing a gas play in western Wyoming and shale gas resource play in eastern Kentucky and Tennessee.

http://www.canadianbusiness.com/mark...ent=b271960719