Drilling Update (5501K)
July 18 2011 - 2:00AM
UK Regulatory
TIDM3LEG
RNS Number : 5501K
3Legs Resources plc
18 July 2011
For Immediate Release
July 18 2011
3Legs Resources plc
Spudding of Warblino LE-1H 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
-- Warblino LE-1H well spudded; vertical pilot well followed by
horizontal section
-- 25 km step-out from recent Lebien LE-2H horizontal well
On 17 July 2011 the Company spudded the Warblino LE-1H well on
its Damnica licence, at a location approximately 25 km to the west
of its recent Lebien LE-2H horizontal well on the Lebork licence.
The Warblino LE-1H well will be drilled initially as a vertical
pilot well to enable detailed core and log analysis of the target
lower Palaeozoic shales. The well will then be plugged back and a
lateral horizontal section will be drilled. The Company is working
with the same drilling contractor as for its Lebien LE-2H
horizontal well.
Peter Clutterbuck, Chief Executive of 3Legs Resources, said:
"We have now spudded the fourth well in our programmes on the
Baltic Basin licenses, which will be, to the best of our knowledge,
the second horizontal shale gas well to be drilled in Poland."
"This well represents a 25 km step-out from our recent Lebien
LE-2H horizontal well and we anticipate that it will significantly
advance our understanding of the regional geology and its potential
for shale hydrocarbons."
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 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 over 35 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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