Arrow Energy inks CSG deal with Shell ...

Excerpt from Sydney Morning Herald:

Arrow shares up 20% on $776m Shell deal

2 June 2008

Royal Dutch Shell, Europe's largest oil company, has formed a $776 million alliance with coal seam gas producer and liquefied natural gas (LNG) hopeful, Arrow Energy.

The oil giant will acquire a 30 per cent interest in Arrow's upstream tenements for an initial payment of $435 million, with a further $209 million payable upon a final investment decision and production from an LNG project in Queensland.

Arrow is one of a number of players, which include Santos Ltd and Petronas and BG Group plc and Queensland Gas Company Ltd (QGC), jostling to be involved in the development of an LNG plant at Gladstone in Qld.
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See - Arrow shares up 20% on $776m Shell deal.