Realm To Explore Strategic Alternatives

After failing to secure a joint venture partner for its prospective shale gas concessions in Poland, Realm Energy International Corporation has announced its intention to explore its strategic alternatives with a view to enhancing shareholder value.

Realm holds three permits in Poland totaling 635,000 gross acres (465,000 net), two of which are exploration permits located in the Baltic basin, northern Poland and one in the Podlasie basin, in the country’s south-east.

Unable to ink a deal despite being in the midst of environment some have have dubbed "the Polish Gold Rush,' Realm had recently announced that it was going to march onwards solo and was commencing exploration activities on its Poland concessions.

Realm said its Board of Directors has concluded that the company trades at a substantial discount to the inherent value of its underlying assets. Accordingly, the Board had decided to initiate a process to identify, examine and consider a range of strategic alternatives available in connection with its interests in Poland.

The company cited an independent report that estimated gas in place estimate of approximately 100 Bcf per square mile (approx. 156 MMcf per acre) for the shale gas prospects in the Baltic Basin of northern Poland.

The company has retained GMP Securities as financial advisor.

Source: Realm Energy International