Palomar Natural Resources is committed to Poland and will continue its intensive exploration and development efforts. Further investment plans include new wells of other gas accumulations, developing the Rawicz gas field and a new exploration and appraisal program to prove commerciality of Siekierki field located near the city of Poznan.
Projects in Poland
Palomar Natural Resources, LLC (PNR) was founded in 2013 by John Buggenhagen and Andrew Pearse in Denver, Colorado with a focus on using modern exploration and production technology, proven and developed in North America, to identify and unlock significant reserves in petroleum fairways around the world.
Palomar Natural Resources, LLC has since entered into joint-venture agreement with San Leon Energy, PLC across seven exploration and appraisal concessions including Rawicz, Wschowa, Gora and Nowa Sol located in the Southern Permian Basin as well as Poznan North, Poznan East and Poznan West, located in the Northern Permian Basin.
In Poland, the primary focus is on reconstructing existing wells in the Northern Permian Basin in order to target additional reservoir zones, improve flow rates and achieve ultimate recoveries. Additionally, PNR will co-finance the development of wells in the Southern Permian Basin; including drilling, evaluation, completion and testing in the Permian Rotliegendes formation. PNR intends to start permitting, operational planning and implementing well design immediately pending final approvals and permits from the Polish regulatory authorities. The first well in Rawicz area is planned to be drilled in the fourth quarter of 2014.
▾1. Poznan East (207)
▾2. Poznan North (206)
Palomar Natural Resources currently owns 65% of and operates seven exploration and appraisal concessions in Poland totaling more than 5,000 km2 including the Nowa Sol, Wschowa, Gora, Rawicz, Poznan East 206, Poznan East 207, and Poznan North 208 concessions.
does not mention giving up their licences..just states the concessions they are to be working on first..
Palomar Natural Resources notes a significant exploration success in Poland with the outlook to start natural gas production near term.
Palomar Natural Resources (PNR), a privately owned international oil & gas exploration and production company has successfully completed its testing program of the Rawicz-12 appraisal well located near in Western Poland. Results of the test data gathered to date include a maximum test rate of 5.3 mmscfd (million cubic feet per day) with an average 24 hour steady flow rate of 4.5 mmscfd. The flow rate and pressure data collected prove a significant gas accumulation at the Rawicz field. Estimated Ultimate Recoverable gas is yet to be determined. Successful appraisal of the Rawicz gas field is one of few recent success stories in Poland’s struggling E&P sector. This success opens a broad range of opportunities for future investment in oil and gas in Poland.
Palomar purchased its 65% interest in Rawicz less than 9 months ago in June 2014 from San Leon Energy. In this short time PNR assumed operatorship of 7 concessions, built a competent operations team, obtained all necessary permits and approvals, drilled the Rawicz-12 well and successfully flow-tested gas. In the short term, PNR is focused on detailed analysis of results to determine the best way forward to develop the Rawicz field and continue to appraise adjacent prospects in the area.
Full field development and first gas sales are expected by early 2016. In the mean time the company plans to evaluate other exploration opportunities in the area including adjacent prospects that could significantly increase the ultimate recoverable reserve potential of the Rawicz area.
John Buggenhagen, Ph.D., CEO of Palomar Natural Resources commented: "I am excited that Palomar’s first Polish well is a success. This early success is proof that a strategy based on applying the latest seismic, drilling and completion technologies to unlock the potential of untapped conventional deposits in Poland, previously considered uneconomical can be successful. I am confident that PNR’s recent success at Rawicz will open a new era of exploration and development for conventional oil and gas in Poland."
Palomar is one of the first foreign companies in Poland working to initiate natural gas production in the near term. The exploration success in Rawicz demonstrates significant potential for more discoveries and hydrocarbon production from conventional deposits on trend. PNR’s success at Rawicz also helps Poland’s energy sovereignty by contributing to Poland’s share of domestic gas in the national energy supply and demand balance. Currently, the price of gas imported by Poland is one of the highest in Europe, exceeding 10 USD per thousand cubic feet.
pnr are a private company so doesn't have to report anything so how come a non holder of san leon can find this out about giving up acreage as pnr has never come out and actually announced nothing of this.
"What was san leon"s sp in December 14! with that sort of inside information you could believe some one has been trying to push sp down to their own benefit."
the difference between me and u, if I buy after the results and the price goes to 2p I will make one hundred percent profit whereas Pikey Gay would only be breaking even on the pretend price, yep lots of egg on my face, which I can buy with the pound notes that Pikey Gay has passed over to me.
" if I buy after the results and the price goes to 2p I will make one hundred percent profit"
with the inside information this guy knows on san leon and how he has posted in a fashion to undermine the company "following for 3 years he has posted"!! to put doubt in holders minds to what buy or sell?.
Then think what was san leons price 3 years ago,13/14p?.
this is an observation only on my part and not a accusation,but looking at it, it does look very very suspicious.
as talking of multi aliases I think your talking to the wrong guy.
You see I have been reading lse and adfvn for a while now and have always thought ct2000 who has only been posting around 4/5 months, but when he posted a reply regarding my post below I did some searching..
And here is what I found and it will be extremely interesting to you regarding aliases as I feel it proves what I thought about ct2000 being chart trader having insider information..
ct2000 Posts: 523 Observation Opinion: No Opinion Price: 0.92 It's story time. Today 13:00 Last year someone emailed to tell me that SLE had taken out a loan with Palomar, similar to when I posted that Palomar had given up four concessions I was called a liar. The common thing these posters all have in common even when they are proved wrong they never bother to apologise. I posted the documents and still I was called a liar. The relevance ? any trustworthy CEO would have released a RNS with the details of the loan and the fact that licences had been returned. The reality of the situation was that OF had got the company into such a position he had to personally guarantee the loan even though Palomar took a floating charge over all the assets, they didn't consider they were enough to cover their 3mill including interest
If you have a look at ct2000 posting history he has been here for 4/5 months or this year, in his post he states he got an email( who from!!) last year and he posted that insider information last year on adfvn not on lse!
so please don't point the non holder finger at me, in fact you post in the same vein as ct2000, I also have seen a pattern form, in that with any informative poster since you non holders have started posting they, the informative posters have disappeared, is that because non holders report their posts enough times to get them suspended? very strange as I have said don't you think!
What was san leon"s sp in December 14! with that sort of inside information you could believe some one has been trying to push sp down to their own benefit.
One thing LSD had said on many occasions is ct2000/chart trader is devious and manipulating etc, with the above what do you think?.. read ct2000 back posts regarding san leon then go on adfvn and read chart trader posts to similar if you ask me.
Lets see if this post disappears and I do on Monday due to non
("Im a holder but have been reading this and other threads for quite a while") SLEaccountsTue 11:03
looks like everything has been published about the company before the results were known by a non holder months prior,looks like someone has inside info ct2000,Im a holder but have been reading this and other threads for quite a while,and it is apparent your vibe against the company is terrible it has to be said.
As a holder I want to get my money back,any holder would,but your slurs on this company don't help any holder and its wrong and because of that I can believe what I have read about you here and other threads to be true.
is this the one links said is or could be as big as rawicz or bigger!...
GT 69: Member Since: Mon, 29th Jun 2015
Dropped a bit of a clanger there haven't you LSD? - But, never was the smartest blade in the drawer LSD 'Links' hasn't commented on these threads since 29th Jun 15, probably because he was banned for creating multiple avatars - so convienient that you show up in his absence and heaped praise on him, after you officially became a member.
Anyway - probably right about Rawicz - as it doesn't look like Rawicz is happening any time soon.
I have always read your posts as well as other informative posters and thank you for your insight.
I too believe morocco is one of the last frontiers and san leon has a lot of acreage on and offshore.and wish them the best of luck with their up and coming programme, is this the one links said is or could be as big as rawicz or bigger!...san leon have this mostly to themselves 75%.higher gas prices than Europe too so fingers crossed.
i meet phil when he was a director of san leon. phill was very focused, his company reversed both the Dutch and Moroccan licences in to Sle. I asked his view on Poland, he said it takes years to prove up shale and its too costly ,thats for the big players. and said for sure the zag licence was a blockbuster and Believed SLE fortunes were in Morocco. Well at long last they finally decided to drill . TOSCA knows SLE are now focused on actuals rather than shale licences. GUESS we are in for a bit of fun this summer
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