3Legs Resources plc News

Thu, 01 Jul 2010 00:00:00 GMT

Lane Energy Poland is pleased to confirm that it has now completed the field acquisition of approximately 50sqkm of 3D seismic in our Cedry Wielkie concession region of northern Poland.

The results of this 3D seismic acquisition will now be processed and interpreted for the purposes of our second vertical exploration well, planned to be drilled in our Cedry Wielkie concession later this year.

Click here to see pictures of the seismic acquisition in progress.

Any queries should be directed to:

Alexander Fraser

email: afraser@3legsresources.com

Kamlesh Parmar

email: kparmar@3legsresources.com

Wed, 16 Jun 2010 00:00:00 GMT

Lane Energy Poland is very pleased to announce that drilling of the Łebień LE1 well has commenced. The Łebień LE1 well, located in the onshore Baltic Basin region of northern Poland, is targeted at the Silurian and Ordovician shales and is expected to reach target depth within 6 to 8 weeks.

Further announcements will be made in due course.

Click here to see pictures of our operation.

Any queries should be directed to:

Alexander Fraser
Email: afraser@3legsresources.com

Kamlesh Parmar
Email: kparmar@3legsresources.com

Conoco to Drill Shale-Gas Well in Poland

Wed, 19 May 2010 00:00:00 GMT

Click here to see the article that appeared on the Bloomberg website on 16th May 2010.

Thu, 06 May 2010 00:00:00 GMT

The well pad construction for the Łebień LE1 well is completed and ready for the drilling rig. However, the drilling rig has been delayed on its current operation and will not be ready for mobilisation to our site until later this month.

We now expect to spud our Łebień LE1 well in early June 2010.

Any queries should be directed to:

Alexander Fraser
Email: afraser@3legsresources.com

Kamlesh Parmar
Email: kparmar@3legsresources.com

Mon, 19 Apr 2010 00:00:00 GMT

Lane Energy’s well and location designs for its first well in the Lębork region in Northern Poland was approved by the Polish Mining Authority last month, and site construction for our Łebień LE1 exploration well is nearing completion – pictures of the site can be viewed by clicking here

The drilling rig is scheduled to be mobilised to our location early next month (May), for a targeted mid-May 2010 spud date.

Lane Energy has in the last few weeks also presented at a SMI conference in London, a PGi conference in Warsaw, and a PGNiG organised conference in Czarna, (south east Poland) all focussed on unconventional hydrocarbon projects – click here for gallery photographs.

Click here for a link to a Times article dated 5 April which focuses on our project area in Poland.

Any queries should be directed to:

Alexander Fraser
email: afraser@3legsresources.com

Kamlesh Parmar
Email: kparmar@3legsresources.com

Thu, 14 Jan 2010 00:00:00 GMT

Following our announcement in December 09, we are delighted to confirm that terms have been agreed with Schlumberger GmbH to provide Lane Energy Poland with well completion and testing services for its first wells. We continue to expect to be ready to spud the first well in April 2010. Completion and testing of the well is scheduled to commence immediately following the drilling process.

Any queries should be directed to:

Alexander Fraser

Email: afraser@3legsresources.com

Kamlesh Parmar

Email: kparmar@3legsresources.com

Wed, 23 Dec 2009 00:00:00 GMT

We are pleased to report that contracts have now been signed with Polish state companies Nafta Piła and Geofizyka Torun (both subsidiaries of PGNiG) for operations commencing in early 2010.

The rig contract with Nafta Piła is for up to 3 wells, the third of which is likely to be horizontal. We expect to spud our first well in April 2010.

Geofizyka Torun have now been engaged by us again to conduct a second 3D seismic survey, this time on our Cedry Wielkie concession. This will be carried out in early 2010 in order to site our second well.

Discussions are ongoing for the associated well completion and testing services that we require – we expect to have terms concluded with our preferred supplier in January 2010.

Click here for photos

Any queries should be directed to:

Alexander Fraser

Email: afraser@3legsresources.com

Kamlesh Parmar

Email: kparmar@3legsresources.com

Article on shale gas taken from Bloomberg

Thu, 10 Dec 2009 00:00:00 GMT

This article appeared on the Bloomberg website on 9th December 2009.

It discusses shale gas and references the exploration agreement between ConocoPhillips and Lane Energy

CLICK HERE to view the full article on the Bloomberg website.

The Hunt for Shale Gas in Europe

Sun, 06 Dec 2009 00:00:00 GMT

This article appeared in The Economist on December 3rd 2009.

Click HERE to read the full article on The Economist's web site

Shale Gas Article taken from the Sunday Times

Sun, 01 Nov 2009 00:00:00 GMT

An excellent article on shale gas appeared in the Sunday Times on 1st November 2009. The Conoco Phillips deal in Poland referred to in the article is the farm in the deal concluded with 3Legs.

Click Here to access the full article from the Sunday Times web site.

Fri, 30 Oct 2009 00:00:00 GMT

125sqkm of 3D seismic data was acquired over Lane Energy’s exploration acreage in the Lębork concession in July/August 09, using the services of Geofizyka Torun.

Following detailed processing of the data, and interpretation of the results in conjunction with ConocoPhillips, suitable locations for exploratory drilling have been identified.

Negotiations are ongoing with our preferred drilling contractor and other service providers and Lane Energy remains on course to spud its first well in early 2010.

Any queries should be directed to:

Alexander Fraser

Email: afraser@3legsresources.com

Kamlesh Parmar

Email: kparmar@3legsresources.com

New York Times article on Shale Gas, 11th October 2009

Sun, 11 Oct 2009 00:00:00 GMT

Click here to see the article that appeared in the New York Times on the weekend of 11th October 2009.

ConocoPhillips targets Shale Gas

Wed, 09 Sep 2009 00:00:00 GMT

Houston-based ConocoPhillips has signed an exploration and evaluation deal targeting shale gas in Poland today.

The agreement with Lane Energy gives ConocoPhillips the option to earn 70% and operate up to 1 million acres, company executive Larry Archibald told the Barclays Capital energy conference in remarks broadcast on the Internet.

The acreage in northern Poland is flat, easy to reach and any natural gas produced can go into the European Union market, which has good demand, a Reuters report said. "What's not to like about this type of play?" he said.

Shale reserves hold vast amounts of natural gas. They are unlocked by drilling horizontal wells and fracturing the rock at various intervals deep underground. ConocoPhillips said it expects to drill its first well in Poland in the first quarter of next year.

Meanwhile, in North America where natural gas prices recently fell to seven-year lows, ConocoPhillips is scaling back its drilling in many areas.

Archibald said the company did not "feel a lot of pressure to drill up" its North American shale positions at current prices.

Oil and Gas Investor, 2009

Mon, 31 Aug 2009 00:00:00 GMT

Click here to view the article as it appeared in the Oil and Gas Investor

Thu, 06 Aug 2009 00:00:00 GMT

In August 2009, 3Legs Resources plc subsidiary Lane Energy Poland Sp.z.o.o. entered into an agreement with global energy company ConocoPhillips, under which the parties will jointly evaluate the potential of Lane Energy Poland’s six Baltic Basin licences covering an area of ~1 million acres (approximately 4,000 square kilometres).

ConocoPhillips will fund an initial shale gas exploration programme of seismic and drilling. A 3D seismic programme was commenced in July 2009 and the parties intend to spud a first well in 1Q 2010. Lane Energy Poland will act as operator on the initial phase. ConocoPhillips will have the right to acquire a majority equity interest in the concessions.

The Lane Energy Poland agreement with ConocoPhillips represents a landmark transaction for the 3Legs Resources Group, which it believes will enable it to maximise the potential of its Baltic Basin licences.

Any queries should be directed to:

Alexander Fraser

Email: afraser@3legsresources.com

Kamlesh Parmar

Email: kparmar@3legsresources.com

Fri, 12 Dec 2008 00:00:00 GMT

Following an invitation from the Dean of the Geology Department at the University of Warsaw, on 9 December,08, Mike Lewis, Kelly Scott and Kamlesh Parmar gave presentations covering all aspects of shale gas exploration projects.

This was the first of a planned series of Energy Days being run by Warsaw University and PGNiG to give both students and faculty members a clearer insight on how energy projects are found, developed and financed.

Included in the audience were members of PGNiG and the Ministry of Environment. We were honoured to present at the event and the invitation further demonstrates the good relationships we have built in Poland while progressing our shale gas project.

Click here for photos of the conference.

In additional, on 8 December 08, Lane Energy hosted an early evening cocktail party at its Warsaw office, giving our business partners and contacts in Poland an opportunity to meet our Board.

Any queries should be directed to:

Alexander Fraser
Email: afraser@3legsresources.com

Kamlesh Parmar
Email: kparmar@3legsresources.com

August 08, European Edition of the Herald Tribune

Mon, 11 Aug 2008 00:00:00 GMT

Please click here to view the article as it appeared.

Wed, 23 Apr 2008 00:00:00 GMT

Lane Energy attended this conference in Czarna as headline sponsor and gave the keynote presentation. Czarna in the Carpathian Mountain region, in southeast Poland – this region is contains the oldest oil producing fields in Poland, dating back to the 19^th century.

Among the 100+ delegates at the conference were representatives from the state oil and gas company PGNiG, the Polish Geological Institute, the geology department of the University of Warsaw and a number of scientific organisations in Poland dedicated to geological research in the oil & gas sector. Lane Energy was the only non-Polish company invited to participate in this prestigious annual event.

The Lane presentation was given by Mike Lewis and Kamlesh Parmar and was centred on our shale gas project in the Baltic Basin region.

A number of key contacts were made and developed during the conference, reinforcing our commitment and our team’s ability to progress a successful project in Poland.

Please click here to view photographs taken at the conference.

Any queries should be directed to:

Alexander Fraser

email: afraser@3legsresources.com

Kamlesh Parmar

Email: kparmar@3legsresources.com

Thu, 20 Mar 2008 00:00:00 GMT

3Legs is delighted to announce that its subsidiary, Lane Energy Poland Sp z.o.o. has secured an additional 4 year prospection and exploration concession adjacent to its existing territory in the Baltic Basin area of Northern Poland.

The concession adds an additional 209 sq km (approximately 52,000 acres) of territory comprising nearly all of the onshore area in Block 9 - please click here for a link to a concession map showing the location of Block 9, and click on the brown areas to zoom in.

This brings the total prospection and exploration acreage secured in Poland to approximately 1,085,000 acres. The testing of core samples has now been concluded with favourable results and 3Legs is working to commence the shooting of 3D seismic under its agreed work programs, later this year.

In January 08, 3Legs completed the placing of a further £1m in value of Cadogan equity. Potential sources of future funding and possible joint venture/farm-out opportunities continue to be reviewed.

Any queries should be directed to:

Alexander Fraser

email: afraser@3legsresources.com

Kamlesh Parmar

email: kparmar@3legsresources.com

Mon, 05 Nov 2007 00:00:00 GMT

Following our initial enquiries in Poland in March earlier this year, 3Legs is delighted to report that on 25 October 2007, it was granted prospection and exploration licences for 5 concession areas in the Baltic Basin region of Northern Poland. These are for a 4 year term over a total area of approximately 1,033,000 acres. The work program obligations under these licences include shooting 3D seismic, and drilling exploration wells.

During the application process, 3Legs has had the opportunity to take core samples from the wells in the licence areas. The initial results from tests carried out on our behalf by Humble Geochemical Services in Texas are extremely encouraging, and have given us confidence that we have the required geological setting for a major shale project.

In addition, we also on 25 October 2007 submitted applications to the Turkish authorities for prospection and exploration licences for a number of blocks, where we feel there may be both shale and conventional hydrocarbon potential. We expect the application process for these blocks to take between 4 and 6 months to complete.

In order to provide additional working capital headroom, 3Legs have placed approximately £300,000 of Cadogan equity and raised a further £250,000 by way of debt. Potential sources of funding and possible joint venture/farm-out opportunities are now being reviewed.