Aurelian Granted Two Licences in Poland
Aurelian Oil & Gas has been awarded two 100 per cent licences from the Polish Ministry of Environment to explore for gas, the company has announced today. The two licences relate to an area of the Polish Carpathians and the South Permian Basin.
The first licence, the Wetlina concession, covers an area of 446 square kilometres in the south-eastern area of the Polish Carpathians. The concession is located nearby to two of Aurelian's existing licences, the Bieszczady concession in Poland and the Snina concession on the Slovakian side of the border.
An initial work programme for the Wetlina concession envisions study of the area in the first year. This will be followed by 14.3km 2D seismic acquisition in years two and three. Aurelian says that the undeveloped Wetlina gas discovery is present in the concession, with two further structures identified with potential in-place resource estimated at 40 BCF and 25 MMBBL.
The second licence, the Prusice concession in the South Permian Basin, covers an area of 758 square kilometres. This concession is adjacent to San Leon Energy's Winsko licence and is believed to be prospective for the emerging carboniferous shale gas play. Aurelian will again perform study in year one on the concession. The company will conduct a 100km 2D seismic acquisition in years two and three.
John Smallwood, Exploration Director for Aurelian, says the licences will enhance the company's portfolio of interests at a low cost and risk.
"These awards enhance our portfolio in each of our two core areas with attractive prospects to mature with low cost work programs and risk profiles," he said. "The presence of hydrocarbons is well-established both regionally and locally within each of the new concessions. In addition, our 100 per cent equity position gives us control over the execution of the exploration programmes.
"Prusice also gives us low cost entry to an emerging shale gas play which aligns well with our technical and operational expertise. We will be looking to bring partners into both blocks to fund the work programs."