Bulgaria Grants Permit for Shale Gas Prospecting

Park Place Energy Corp. has been awarded a five year concession for shale gas prospecting in a 400 sq.km. area in northeast Bulgaria. The Calgary, Alberta based company says that it specializes in the extraction of shale gas, with projects in both Canada and the USA.

The grant to Park Place was for  "Block 1-11 Vranino," situated between the towns of Shabla and General Toshevo in Dobrich region.

US Ambassador to Bulgaria James Warlick recently made public the interest of American companies, specifically Chevron, in shale gas extraction projects in Bulgaria.

The issuance of a permit to Park Place for shale gas exploration follows an earlier granting to Denver, Colorado based Direct Petroleum Exploration, Inc.