Street Talk
Ambassador a potential takeover play
Sarah Thompson and Anthony Macdonald
Market interest is building in shale gas explorer Ambassador Oil and Gas amid talk the sector minnow could make an ideal bolt-on acquisition for some of its larger rivals.
The company, which, like Santos and Beach Energy, operates in South Australia’s Cooper Basin, has estimated some 20 trillion cubic feet of unconventional gas is in place at its PEL 570 permit, split between 13 trillion cubic feet of shale gas in place and 8 trillion cubic feet of tight rocks gas in place.
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