Lane Energy announces Łebień LE1 well spudded

Lane Energy Poland Sp.z.o.o., a subsidiary of 3Legs Resources plc,  has announced the commencement of drilling of the Łebień LE1 well, in partnership with ConocoPhillips,

The Łebień LE1 well, located in the onshore Baltic Basin region of northern Poland, is targeted at the Silurian and Ordovician shales and is expected to reach target depth within 6 to 8 weeks.

In August 2009, 3Legs and ConocoPhillips, the third largest integrated energy company in the US, entered into an agreement to jointly evaluate the potential of Lane's six Baltic Basin licences covering an area of ~1 million acres (approximately 4,000 square kilometres).

ConocoPhillips will fund an initial shale gas exploration programme of seismic and drilling. A 3D seismic programme was commenced in July 2009. Lane Energy will act as operator on the initial phase. ConocoPhillips will have the right to acquire a majority equity interest in the concessions.

Source: Lane Energy