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.

Jul 14th, 2000


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.

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