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What space are you talking about?
You should see that there is now 12 GB of additional free space in whatever tablespace(s) the objects the two schemas owned were in. You won't see any change in the amount of disk space that Oracle's data files are consuming on the operating system, however.
Are you just going to import more data into this database or otherwise cause those tablespace(s) to grow? If so, you probably don't care about the amount of space that is being used up at the operating system level, you just care about the free space in the tablespace. It wouldn't make a lot of sense to go to the effort of shrinking the tablespace(s) data files only to then turn around and incur the cost of re-growing them.
If you are really sure that you want to shrink the size of your data files to increase the free space at the operating system level (and decrease the free space in the tablespace(s)), you can use Tom Kyte's maxshrink script[url] to see how small you can make them. Depending on how you've set up your tablespaces, you may or may not be able to reclaim all 12 GB, though, via simply data file shrinking. If you have other schemas using those same tablespaces, it is likely that all 12 GB was not at the very end of the data files. In that case, you'd have to move the objects you want to keep that have extents at the end of the data file to a different tablespace (potentially moving them back after shrinking the current tablespace) which would require additional temporary disk space and would be quite a bit more work