TransAtlantic Petroleum Joins Shale Gas Hunt in Poland

Bermuda-registered TransAtlantic Petroleum joined shale gas hunt in Poland, signing a farm-in agreement with Ireland-based San Leon. 

‘Under the terms of the agreement, TransAtlantic would fund 100% of a six well work program focused on achieving commercial production in the Permian Main Dolomite and Rotliegendes formations while further proving the huge upside potential of the Carboniferous tight gas play,’ reads a note released on Thursday.

San Leon estimated that the value of the work program is no more than $ 60-70 million. TransAtlantic would earn an undivided 50% working interest in the Nowa Sol, Wschowa, Gora, Rawicz, Prisice, Kotlarka, Olesnica, Praska and Wielun Concessions totalling more than 1.9 million gross acres.

TransAtlantic also committed to pay a total of $ 10 million.

The Irish company recently signed a similar agreement with Horizon General for three wells in the Main Dolomite play.