are we in Q2 yet??....so as yet no deadline on production/income broken!!..........................here is an example to those who thought the realm t/o ws wrong....look at the gas 100bcf per sq mile or 156mmcf per acre......
Polish Shale Observers Await Outcome of Realm Process
Shareholders of Realm Energy International and observers of development in Poland nascent shale gas industry, continue to wait for news on the outcome of the company’s on-going value creation efforts.
In May, Realm announced that it has retained GMP Securities as part of initiating a process to “identify, examine and consider a range of strategic alternatives available in connection with its interests in Poland.”
Realm said the decision to engage a financial advisor was taken after its Board of Directors has concluded that the company trades at a substantial discount to the inherent value of its underlying assets.
Realm holds interests in three Polish shale concessions. Its wholly owned Gniew concession, located in the heart of Baltic Silurian shale play in Northern Poland, is viewed by industry players to potentially be the company’s most prospective asset.
The Gniew concession covers a gross area of 294,000 acres and lies contiguous to territory to where 3Legs Resources plc. and ConocoPhillips are reportedly preparing to drill a third exploratory well in their campaign seeking shale gas in the Baltic Basin.
Though Poland has seen a series of joint ventures and acquisition activity involves shales, Realm announced that it intends to move forward with drilling programs on acreage positions once seismic surveys have been completed and potential well locations determined.
Industry observers viewed this news as indication of the unsatisfactory terms of joint venture proposals that we being presented to the company.
In announcing that its engagement of GMP, Realm cited an independent report that estimated gas in place estimate of approximately 100 Bcf per square mile (approx. 156 MMcf per acre) for the shale gas prospects in the Baltic Basin.
Westie,links is an excitable soul but talking billions is baloney until SLE make their first £1. Theory is great but so far San Leon's theories have not been converted practically even once. Despite promises,of no more dilution as Turkey would pay for this and that , the fact we have appointed a new specialist broker leads to to think that extra funding is headed our way. Links will have other ideas I am sure but in business you need to meet deadlines. We have failed to meet one milestone which is unsettling for me personally but I wait in hope
here is some....... siekierki will produce more than turkey..production from turkey will be fab..siekierki will be bigger..sle have one hell of a big cake,they know they cant do it on their own hence all the LOI?MOU farmins etc..if you have a multi multi billion portfolio once on stream and you are receiving 10/20/30/40% on them ..you will have a company worth billions..thats sle..
Still no sign on the sp moving out of the gutter despite the recenty promising news. I wonder just how long we have to wait before things start to happen here? So much promise but it seems we are just not liked. Any positive comments?
March 03rd, 2014 4:22pm Posted In: Natural Gas, News By Country, Poland
FX Energy, PGNiG Start Production on Second Well in Fences Concession
US-based FX Energy started production at the Komorze-3 well in the Fences concession in Poland, registering a 1.1 million cubic feet of gas per day gross in this phase.
“With the additional production from Komorze-3, our Company-wide net production is now approximately 14 million cubic feet of gas equivalent per day, with two more wells yet to come on line,” David Pierce, president of FX Energy, said in a note released on Monday.
The company expects first production from the Lisewo-2 well to start in the third quarter of 2014, while the Szymanowice-1 well in early 2015.
All four of these wells are located in the Fences concession where the Polish Oil and Gas Company (PGNiG) is the operator and owns 51% of the working interest; FX Energy owns 49%.
“Gas prices remain strong in Poland and with our increased production we are better able to fund a growing exploration and development program,” Pierce said.
The Tuchola-4K well is currently at a depth of 1073 meters, drilling toward total depth of approximately 3,452 meters. The primary objective of the well is the lower Zechstein Ca1 formation at a depth of approximately 2,700 meters.
unforeseen delays do happen and that is what imo has happened..sle wouldn't rns nothing they don't know ..imo..it will happen..when..as and when..but with sle we might be surprised soon as loads is due.
The no news about Turkey, has now become a deafening silence. Where as it can be acceptable that unforseen delays can happen. What is not acceptable is why the shareholders have not been updated as to what the delay is and what the current situation is.....There can be no excuse its pure ignorance, we deserve better...
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Published: March 2, 2014
The crisis in Ukraine shows the case for shale gas
Harry Phibbs By Harry Phibbs
Last updated: March 2, 2014 at 12:45 pm
Last November there was a $10 billion shale gas production-sharing agreement signed in Ukraine with Chevron. It followed a similar deal earlier with Royal Dutch Shell.
President Viktor Yanukovich said:
“The agreements with Shell and Chevron … will enable us to have full sufficiency in gas by 2020 and, under an optimistic scenario, even enable us to export energy.”
That was President Yanukovich – the “Putin puppet.” Those who have now taken over are hardly likely to be less enthusiastic about the prospect of energy independence from Moscow.
This is not just a matter of interest to Ukraine.
Lord Lawson has highlighted the politics of shale for some time. Hitherto “the West has been heavily dependent for its supplies of oil and gas on an unstable Middle East and an unreliable Russia.” But fracking has already “shaken up the old world order”. The US will overtake Saudi Arabia as the world’s largest oil producer in 2017.
For decades, the West in general, and the U.S. in particular, has had to shape, and sometimes arguably to misshape, its foreign policy in the light of its dependence on Middle East oil and gas. No longer: that era is now over.
For decades, too, Europe has been fearful of the threat that Russia might cut off the gas supplies on which it has relied so heavily.
No longer: that era will very soon be over, too. Thanks to the shale gas revolution, the new found energy independence of the West is a beneficent game-changer in terms of world politics as much as it is in the field of energy economics.
Lord Lawson does not claim that our diplomatic and military requirements will be redundant – “there is more to international politics than oil and gas.” The other benefits of shale gas – cheaper energy and lower carbon dioxide emissions – are also important. However long term political benefits of fracking matter as well. It will make it easier for countries to assert their national independence, without being bullied by dictatorial neighbours.
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