Petrolinvest Increases Shale Exposure Via Stake in Eco Energy 2010

Petrolinvest SA has announced that it has bought a 40 percent stake in Eco Energy 2010, which owns four shale gas exploration licenses in Poland.

The interest was acquired from Masashi Holdings Limited for a reported base consideration of USD 32 million.

In late November, Petrolinvest spokesperson Tomasz Tarnowski has said that the company wanted to strenghten its position by obtaining further exploratory concessions.

Petrolinvesy is planning to drill three exploratory wells next year, in an examination of shale gas reservoirs on one of the  nine concessions it held in Poland  prior to this transaction.

Related Reading: Petrolinvest: An Emerging Shale Player