Drilling Update (8013I)

TIDM3LEG

RNS Number : 8013I

3Legs Resources plc

21 June 2011

For Immediate Release

June 21 2011

3Legs Resources plc

Drilling of ebien LE-2H horizontal well

3Legs Resources plc (the "Company"), a company focussed on the exploration and development of unconventional oil and gas resources with a particular focus on shale gas in Europe, announces the following drilling update.

Highlights

-- ebien LE-2H horizontal well drilled and cased

-- High gas saturations encountered throughout the horizontal section

-- Well being made ready for extensive well stimulation programme scheduled for Q3 2011

The Company has drilled and cased the ebien LE-2H horizontal well, drilled from the same location as its earlier ebien LE-1 vertical test well. Drilled to a total measured depth of 4,080 metres, the ebien LE-2H well includes a horizontal section of approximately 1,000 metres, which was successfully placed within a 5 metre target zone within the organic-rich lower Palaeozoic shales. The well encountered high gas saturations throughout the horizontal section.

Logging of the horizontal section has been carried out and the well has been cased to surface. Data from the well supports the Company's existing regional geological interpretation.

The ebien LE-2H well will shortly be made ready for an extensive well stimulation programme, scheduled to take place in the third quarter of 2011, following which the well will be put on test. The drilling rig, which will not be required for the well stimulation and test programme, will now move to a new location for the Company's Warblino LE-2H horizontal well on its Damnica licence, scheduled to spud in the third quarter of 2011.

Peter Clutterbuck, Chief Executive of 3Legs Resources, said:

"We are pleased to have finalised the drilling and casing of our first horizontal well which is, to the best of our knowledge, the first horizontal shale gas well to be drilled in Poland."

"We are very encouraged by the excellent gas shows encountered while drilling this horizontal well and we look forward to the results of the well stimulation and test programme later this year."

For further information contact:

 
 3Legs Resources plc         Tel:    +44 1624 811 611 
 Peter Clutterbuck, Chief 
  Executive Officer 
 Alexander Fraser, Chief 
  Financial Officer 
 
 Jefferies International 
  Limited                    Tel:    +44 207 029 8000 
 Chris Snoxall 
 Alex Grant 
 
 College Hill                Tel:    +44 207 457 2020 
 Simon Whitehead 
 Catherine Maitland

Notes to Editors

3Legs Resources was established in early 2007 to focus on the exploration and development of unconventional oil and gas resources, with a particular focus on shale gas in Europe. A first mover in Poland, 3Legs Resources has acquired six exploration and prospection licences covering approximately 1,084,000 acres (gross) in the onshore Baltic Basin, a region considered to be one of the most promising shale basins in Europe. The Company's primary targets in the Baltic Basin are the Silurian and Ordovician organic-rich black shales. In addition to these assets, the Company holds onshore exploration licences over acreage near Krakow in southern Poland and in Baden-Wurttemberg in south-west Germany.

The technical information and opinions contained in this announcement have been reviewed by Peter Clutterbuck (MA Honours in Engineering, Cambridge University and former Member of the Board of the Society of Petroleum Engineers in London), Chief Executive Officer of 3Legs Resources plc, who has 40 years of experience in the oil exploration and production industry. He has consented to the inclusion herein of such technical information and opinions.

www.3legsresources.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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