Talisman May Pull Out of Polish Shale Exploration

Director of Talisman Energy Poland Tomasz Gryzewski has indicated that his company may withdraw from shale gas exploration in Poland.

The news confirms announced intentions expressed by senior company officials of the Canadian based company to exit both Peru and Poland, in both public statements and analyst meetings.

Speaking to Reuters news agency today, Mr. Gryzewski said that uncertainty in the hydrocarbon market had caused the firm to reassess their options, including those held in Poland.

"Talisman Energy is changing its operation strategies for the coming years as the result of changes on the oil and gas market," he said. "Divestment options, including in Poland, are being considered." He added that any final decision would be released with the company's first-quarter results. 

Talisman currently has three shale wells in Poland, the Lewino-1G2, Rogity-1, and Szymkowo-1. All three wells have ecncountered positive shale shows. However, in its recent Annual Information Form, published on the 6th of March, the company said that it was "currently evaluating its options in Poland". No further details were given in the report.

This is the second sign in recent months that confidence may be beginning to wane in Poland's shale capabilities. In December of last year, ExxonMobil announced its almost complete withdrawal from the Polish shale race. The company sold two shale licence assets to Polish refiner PKN Orlen at that time. It had also previously relinquished three of its six Polish shale licences. The company still holds one shale licence.

The Talisman Energy withdrawal has been rumoured since last year.