Poland: Shale acreage acquisition completed

By OGJ editors
HOUSTON, Feb. 21 -- LNG Energy Ltd., Vancouver, BC, said its Kaynes Capital S.a.r.l subsidiary completed the acquisition of shale gas acreage in Poland.

Kaynes Capital acquired a 50% interest in Joyce Podlasie LLC and a 50% interest in Maryani Podlasie LLC from Source Energy Partners LP for $4 million. Joyce indirectly holds an undivided 100% interest in the Ilawa concession, and Maryani indirectly holds an undivided 100% interest the Wegrow concession in Poland.

Joyce and Maryani total 360,000 acres and increase LNG’s net Polish shale gas acreage by 180,000 acres. The acquisition gives LNG Energy a gross acreage position in Poland of 1.1 million gross acres in five concessions and 326,000 net acres.