No Shale Gas Partnership for Beach Energy

Beach Energy has closed a data room for parties eyeing its shale gas assets in central Australia and doesn't expect to attract a partner until it proves up more gas, Dow Jones Newswire reported chairman Bob Kennedy as saying.

Adelaide based Beach holds huge reserves of shale gas in the Cooper Basin and the company is in the process of testing the characters of its resources.

 So far, Beach has drilled three exploration wells that Kennedy said have presented promising, but early-stage, results.

"There was interest, and there will be people who'll look at it once the results are there, which is the pattern in the US," Kennedy told Dow Jones. "When it's all proven up, they'll come along and want to play."