8 Sep 2011 09:43
8 September 2011
3Legs Resources plc
Operations on Lebien LE-2H horizontal well
3Legs Resources plc (the "Company"), a company focussed on the exploration and development of unconventional oil and gas resources with a particular focus on shale gas in Europe,announces the following operational update.
Following the Company's announcement on 30 August 2011 regarding the completion of the hydraulic fracture treatment on the Lebien LE-2H horizontal well, the well has commenced flowing natural gas and a flare has been lit, for a short duration test, as is normal for this type of operation. This will enable the potential of the well to be assessed.
Operations are continuing on the Company's Warblino LE-1H horizontal well and an announcement relating to this well is expected to be made in the near future.
For further information contact:
3Legs Resources plc | Tel: | +44 1624 811 611 |
Peter Clutterbuck, Chief Executive Officer | ||
Alexander Fraser, Chief Financial Officer | ||
Jefferies International Limited | Tel: | +44 207 029 8000 |
Chris Snoxall | ||
Alex Grant | ||
| ||
College Hill | Tel: | +44 207 457 2020 |
Nick Elwes | ||
Catherine Maitland |
Notes to Editors
3Legs Resources was established in early 2007 to focus on the exploration and development of unconventional oil and gas resources, with a particular focus on shale gas in Europe. A first mover in Poland, 3Legs Resources has acquired six licences covering approximately 1,084,000 acres (gross) in the onshore Baltic Basin, a region considered to be one of the most promising shale basins in Europe. The Company's primary targets in the Baltic Basin are the organic-rich black shales of the Lower Palaeozoic section. In addition to these assets, the Company holds onshore exploration licences over acreage near Krakow in southern Poland and in Baden-Württemberg in south-west Germany.
The technical information and opinions contained in this announcement have been reviewed by Peter Clutterbuck (MA Honours in Engineering, Cambridge University and former Member of the Board of the Society of Petroleum Engineers in London), Chief Executive Officer of 3Legs Resources plc, who has over 35 years of experience in the oil exploration and production industry. He has consented to the inclusion herein of such technical information and opinions.
www.3legsresources.com