3Legs Proceeds with Baltic Basin Operations

The 3Legs Resources Group is proceeding with horizontal and vertical wells in northern Poland, 'with a view to spudding the next well in Q4 2013.'

"Our 2013 work programme continues to advance. We look forward to restarting testing of the Lebien LE-2H well, and to testing the Strzeszewo LE-1 well, in July 2013. Good progress has also been made in relation to the 2013 drilling programme as we work towards the spudding of our next well in the fourth quarter of 2013,” commented Kamlesh Parmar, Chief Executive of 3Legs Resources.

According to the press release, 3Legs Resouces has successfully executed a single-stage hydraulic fracture stimulation in the Cambrian Alum shale in May 2013. The Strzeszewo LE-1 vertical well is now “in a shut-in period in readiness for a flow test.”

At the same time, the company commenced in mid-May 2013 further testing on the Lebien LE-2H horizontal well using nitrogen assistance to initiate production. Activities were suspended for operational considerations and are due to recommence in early July 2013.

“While work is still ongoing, preliminary conclusion significantly improve the Company’s understanding of its target formations, including reservoir properties and materiality,” reads a note released on Thursday.

According to the press release, the company’s preferred drilling contractor has been selected and a drilling contract is being finalised, with a view to spudding the next well in the fourth quarter of 2013.

3Legs Resources plc is an oil and gas group focused on the exploration and development of unconventional oil and gas resources. 3Legs Resources holds interests in six licences covering approximately 1,084,000 acres (gross) in the onshore Baltic Basin in northern Poland.