Poland: Shale acreage acquisition completed

LNG Energy Ltd., Vancouver, BC, said its Kaynes Capital S.a.r.l subsidiary completed the acquisition of shale gas acreage in Poland.
Feb. 21, 2011

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.

Sign up for Oil & Gas Journal Newsletters