3Legs Resources committed to shale gas exploration in Poland
January 23, 2014
Upstream firm 3Legs Resources will focus its efforts regarding shale gas exploration on Polish assets and is satisfied with the progress of its drilling program so far, the company said in a press statement announcing the sale of two concessions in Germany.
"The transaction [of selling two German licenses] is consistent with the strategy we announced at the time of our last AGM, and demonstrates our commitment to focusing our resources on our most important project, namely our Polish Baltic Basin concessions," Chief Executive Kamlesh Parmar said, as quoted in the statement.
“We are continuing to make good progress on our announced 2014 drilling program," Parmar said. "The drilling of the Lublewo LEP-1 well [in northern Poland]is an important first step in this program and the extensive core and log data we have acquired will be invaluable for fine-tuning the strategy for our long lateral well planned for later this year.”