logo-loader
view3Legs Resources

3Legs Resources abandons Dabie-Laski project in Poland

europe350_501f78eb78ebe.jpg

3Legs Resources (LON:3LEG) has decided to relinquish the Dabie-Laski project in Poland and is currently “considering options” for the Bytom-Gliwice and Glinica-Psary concessions.

After interpreting the 2D and 3D seismic data from its three southern Poland concessions, 3Legs has concluded that it has “insufficient data to justify drilling a vertical test well” on Dabie-Laski within the timeframe specified in the licence.

The company has to drill one vertical well on each of the Bytom-Gliwice and Glinica-Psary projects by August 2013 or to relinquish them. Earlier this year, the company acquired 50 square kilometres of 3D seismic data at the two concessions.

“Relinquishing the Dabie-Laski concession is consistent with our strategy of high-grading our exploration opportunities and focusing our activity on those areas which we believe offer most potential,” said chief executive of 3Legs Peter Clutterbuck.

“We continue to evaluate new exploration opportunities which are capable of complementing our primary project in Poland's Baltic Basin.”

The company added that operations on its Baltic Basin concessions in northern Poland are proceeding as previously announced.

Quick facts: 3Legs Resources

Price: - -

AIM:3LEG
Market: AIM
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Seneca Global Income & Growth's David Thomas reckons there's much more NAV...

Seneca Global Income & Growth Trust PLC's (LON:SIGT) David Thomas tells Proactive London's Andrew Scott it's a multi-asset trust and, unusually in the space, he says they're value-investors. ''At the moment we've got around 60% equities of which over half is in the UK'', he says. ''In the UK...

3 hours, 17 minutes ago

2 min read