n476 , 3Legs have to fund costs in proportion to their interest in Western Baltic Basin licenses . 3Legs also have 100% in Baltic Basin licenses towards the East near where Pgnig's current promising drilling which are in the wet gas maturity window which presumably can also be farmed out . Be nice to hear the company say something about those . My opinion is that all it will take is good flow rates from one fracced well in the Baltic Basin , whether it be for BNK , 3Legs , San Leon or Pgnig for interest to grow . If it's 3Legs then I'm sure they will follow up the news with details of a pilot project . The Pole's will sort out their hydrocarbon taxation - Marathon , Talisman and other big names leaving will ensure that .
25 May '13
Does anyone know to what extend 3LEG is carried out for in regards to the blocks its shares with Conoco? £38m cash balance is positive but at the same time shale gas exploration is an expensive business and that amount could go very quickly possibly resulting in some substantial dilution to raise more money. A little bit worried about this hydrocarbon tax the Polish government want to pass as that could deter investors. I imagine this is small fry for Conoco but I hope they don't pull the plug. GLA
19 Apr '13
Since Damille got a shoeing at the EGM with every one of their resolutions defeated should we expect them to liquidate their position over the next couple of months and try and attach themselves to a new host ?
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