Operational Update (8669N)
September 08 2011 - 4:43AM
UK Regulatory
TIDM3LEG
RNS Number : 8669N
3Legs Resources plc
08 September 2011
8 September 2011
3Legs Resources plc
Operations on Lebien 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 operational update.
Following the Company's announcement on 30 August 2011 regarding
the completion of the hydraulic fracture treatment on the Lebien
LE-2H horizontal well, the well has commenced flowing natural gas
and a flare has been lit, for a short duration test, as is normal
for this type of operation. This will enable the potential of the
well to be assessed.
Operations are continuing on the Company's Warblino LE-1H
horizontal well and an announcement relating to this well is
expected to be made in the near future.
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
Nick Elwes
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
organic-rich black shales of the Lower Palaeozoic section. 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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