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On-shore Baltic Basin - Northern Poland
Licence area location map. Lane Energy acreage shaded in brown. Click to zoom.
Granted in October 2007 and March 2008, our 6 hydrocarbon exploration and prospection licences cover a total area of approximately 1,030,000 acres and are held through our subsidiary company, Lane Energy Poland Sp. z o.o. The licence areas are located in Northern Poland, in the Baltic Basin region, near the Port of Gdansk.
Our focus is to explore for unconventional gas potential in the silurian and ordovician shales.
The 6 licences contain minimum work program obligations during the 4-year term to shoot 3D seismic and drill exploration wells. Our assessment of the reservoir potential, based on independent testing of core samples and review of historical well log data, is extremely encouraging
In August we announced that a joint evaluation agreement had been signed with ConocoPhillips to develop this project. In August 2009 Lane Energy Poland also successfully completed he acquisition of over 120sqkm of 3D seismic in the Zwartowo area. Click here for further detail on the ConocoPhillips deal.
We expect to commence drilling our first exploration well in early 2010.