May 25, 2012
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№ 4 (April 2012)

Poland Awards Shale Gas Concession

Poland's Ministry of the Environment has awarded energy giant San Leon Energy exploration rights to a region that takes in some 300,000 acres, as the country's bid to tap shale gas resources continues.

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The rights to the so-called Praszka concession in southern Poland take the company's acreage in the the Southern Permian/ Carboniferous Basin to more than 1.2 million acres.

This makes San Leon the second biggest license-holder in Poland after state-run energy company PGNiG.

"We are very excited to continue to expand our prospective acreage position in Poland,”
concluded Oisin Fanning, Chairman of San Leon in a press release.

“Our focus on the huge upside potential of the Carboniferous follows the Company's strategy of building a diverse portfolio of high potential assets,” Fanning continued.

“San Leon is now the dominant player in the basin.”

Speaking at an academic conference on shale gas in Warsaw last week, Prime Minister Donald Tusk pledged that the exploitation of shale gas “will begin a new epoch for energy in Poland.”

The Polish government believes that tapping the country's shale gas resources will be a major step towards being more independent in the energy sector, with Poland still largely reliant on Russia for gas.

Nevertheless, in March this year, Poland's Chief National Geologist revealed that the extent of Polish shale gas deposits may not be quite as promising as previously imagined.
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