INDUSTRY BRIEFS

CANADIAN FRACMASTER LTD., Calgary, and Hungary's Mecseki Szenbanyak FA formed Methane Master Kft, a joint venture that has acquired exclusive rights to explore for and produce coalbed methane in the Mecsek basin of Hungary. Estimated reserves to a depth of 1,500 m are 3 tcf. Fracmaster said there are substantial reserves below that depth. Investment in the project is to exceed $75 million. Drilling under a 35 year concession is to start Mar. 1. Full scale development, to start next January,