SWN says N.B.'s underground gas widespread

SWN Resources, the biggest player in shale gas exploration in New Brunswick, announced Tuesday in Fredericton that its initial assessments show a widespread presence of hydrocarbons underground, includingoil and natural gas.

"It's not a hundred per cent but it certainly looks like we'll drill a stratographic test. A seismic has been shot. It's being interpreted as we speak," said Tom Alexander, SWN's New Brunswick general manager.

"The objective is to drill and take rock samples and cores and logs and just find out what the age of the rocks are, where we are in the section and what's underneath the surface of the earth."

The company has so far analyzed about 2,800 geochemical tests. The company expects to move quickly forward with the next series of tests by next year.