Poland awards 10 concessions to EuroGas

Poland's Ministry of Environmental Protection, Natural Resources, and Forestry recently awarded 10 exploration concessions to EuroGas Polska sp.zo.o., a wholly owned subsidiary of EuroGas Inc., London. EuroGas says it is in discussions with three large oil companies on potential participation in the venture.

The granted concessions, Nos. 23/2000/L through 32/2000/L, cover 4,327 sq km. EuroGas says it intends to acquire new seismic data over the area later this year with a view to drilling an exploration well in 2001.

The findings of a 2-year study covering 1.05 million acres in southeast Poland, which includes EuroGas' concessions, identify 12 new exploration targets near the town of Sanok in the 4,300 sq km Rymanow-Lesko area of the Carpathian oil thrust belt (OGJ Online, May 26, 2000). EuroGas claims the largest of these targets, at a depth of around 2,000 m, could contain up to 350 million boe of reserves.

Rymanov-Lesko lies between the Boryslaw oil region of Ukraine and the Krosno region of Poland.