Leni, Partners Continue Discussions on Spain Unconventional Gas

Leni Gas & Oil plc, has announced that Sorgenia International B.V ("Sorgenia") and Rohöl-Aufsuchungs Aktiengesellschaft ("RAG"), the company’s co-venture partners have now successfully completed their initial technical assessment.

The parties have extended the term of the non-binding Commercial Terms Agreement and are continuing active discussions on a potential long-term agreement.

In November, Leni signed an agreement setting out the potential terms of an agreement to cooperate with Sorgenia and RAG to assess a potential joint venture for the exploitation of unconventional gas opportunities in Spain.

Leni has identified unconventional gas prospectivity in the Lower Jurassic within the acreage held by the Company which spans over 550 sq km in the proven Basque-Cantabrian basin in northern Spain.

Source: Leni Oil & Gas