Kutno May Hold More Shale Riches

Deposits of shale gas recently discovered by Poland's PGNiG near Kutno, in central Poland, may be just the tip of the iceberg.

According to geologists, there are gigantic deposits some 90 kilometers away from the area where major concerns have focused their attention, and are located deeper than the current drilling is being done, that is, at the level of 6,000-7,000 meters.

“PGNiG discovered a natural storage of gas, but its sources are to be found somewhere else. This opens new opportunities,” renowned geologist Jan Krasoń told Dziennik Gazeta Prawna.

FX Energy is the operator of the Kutno concession; PGNiG and FX Energy have signed a joint operating agreement under which PGNiG will earn 50% interest in the concession.

Related Reading: FX Energy, PGNiG Have High Hopes for Gas at Kunto