New Standard shareholders back expansion

Last month the company revealed it wasset to gain stakes in theEagle Ford shale playin Texas and an unconventional play in South Australia's Cooper basinas part of a wider deal with US-basedMagnum Hunter Resources.

OnMonday, New Standard said more than 95% of shareholders backed theproposed expansion at an extraordinary general meeting.

“It’snot every day that we can present our shareholders with anopportunity such as this,” New Standard chairman Arthur Dixon said.

“Makingthe