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15 Aug 2014 07:00
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For Immediate Release
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15 August 2014
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3Legs Resources plc
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Operations update
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3Legs Resources plc ('the Company'), an independent oil and gas group focusing on the exploration and development of unconventional oil and gas resources in Poland, announces the following operations update.
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Lublewo LEP-1ST1H lateral well - commencement of long term test
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Following the Company's announcement on 1 August 2014 regarding the completion of the multi-stage stimulation programme on the Lublewo LEP-1ST1H lateral well, the well has now been put on a planned long term flow test.
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After drilling out the bridge plugs used for the stimulation programme, cleaning up of the well commenced on 6 August, initiating the long term test. The well was temporarily shut in to install bottom-hole pressure gauges on 12 August, and then reopened. The well continues to flow back frac fluid and hydrocarbons, and as at 14 August approximately 12% of the frac fluid originally injected had been recovered. The well has not required nitrogen assistance.
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The test will enable an assessment of the well's long term potential to flow natural gas and liquids, and will enable the collection of further data regarding the reservoir properties of the Sasino shale formation. Further updates will be issued in due course.
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Kamlesh Parmar, Chief Executive of 3Legs Resources,said:
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"The Lublewo LEP-1ST1H lateral well is a key milestone in our exploration programme in Poland and we are very pleased to announce that this well has now been put on long term test. The operations to bring the well into test production have gone very smoothly and we are delighted to see the well has flowed from the beginning without assistance."
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For further information contact:
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3Legs Resources plc | Tel: | +44 1624 811 611 |
Kamlesh Parmar, Chief Executive Officer | ||
Alexander Fraser, Chief Financial Officer | ||
Jefferies Hoare Govett | Tel: | +44 207 029 8000 |
Simon Hardy | ||
Graham Hertrich | ||
Northland Capital Partners | Tel: | +44 207 382 1100 |
Louis Castro | ||
Matthew Johnson | ||
FTI Consulting | Tel: | +44 203Β 727 1000 |
Oliver Winters | ||
Shannon Brushe |
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Notes to Editors
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3Legs Resources plc is an independent oil and gas group focused on the exploration and development of unconventional oil and gas resources. 3Legs Resources holds interests in six licences covering approximately 1,084,000 acres (gross) in the onshore Baltic Basin in northern Poland, a region considered to be one of the most promising shale basins in Europe.
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The technical information and opinions contained in this announcement have been reviewed by Christie Ward Schultz (BSc in Petroleum Engineering, Texas Tech University), Engineering Manager of 3Legs Resources plc, who has over 14 years of experience in the oil exploration and production industry. She has consented to the inclusion herein of such technical information and opinions.
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www.3legsresources.com
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