Shale Explorer 3Legs Resources to Go Public
Shale gas focused 3Legs Resources PLC, plans to go public on London's AIM exchange mid-June.
Lane, which holds 11 concessions in Poland and Germany, has reportedly been exploring public and private financing options since the 3rd Quarter of 2010. Jefferies International Limited will act as broker to the company.
3Legs holds six exploration licenses in Poland's Baltic Basin. In August 2009, Lane Energy, a subsidiary of 3Legs Resources .and ConocoPhillips, entered into an agreement under which the parties agreed to jointly evaluate the potential of Lane ’s six Baltic Basin licences covering an area of ~1 million acres (approximately 4,000 square kilometres).
Earlier this year, Lane Energy this year drilled two vertical wells, Lebien LE-1 and Lebork S-1 ,targeted at the Silurian and Ordovician shales.
3Legs has been seeking partnerships for its concessions in Krakow region of Southern Poland and in Baden Württemberg region of Southern Germany.
The three licenses in the Krakow block in Poland consist of approximately 620,000 acres and contains an estimated 900 million barrels of oil equivalent in recoverable resources, with prospect in both unconventional gas and unconventional oil plays.
The German concession consists of two licenses in the Baden-Wurttemberg block, approximating 630,000 acres
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