BNK Petroleum Inc. (TSX: BKX) has, through Saponis Investments Sp. Z o.o. in Poland, completed the major tenders for the services to drill the Wytowno S-1 and Lebork S-1 wells on the Slawno and Slupsk concessions in Poland, including the award of the drilling rig contract to NAFTA Pila, the company reported in a news release. NAFTA Pila recently completed drilling the Lebien LE1 well and is currently drilling the Legowo LE1 well, both for Lane Energy/Conoco Phillips.
These two wells are shale gas test wells located on concessions directly offsetting the company's Saponis concessions. Surface agreements have been secured for both the Wytowno S-1 and Lebork S-1 wells. Surface site construction is underway and rig release and mobilization from the Legowo LE1 well and site construction will determine the Saponis drilling schedule. The Company owns 26.6% of Saponis and the rest of Saponis is owned by Rohol-Aufsuchungs Aktiengesellschaft ("RAG"), Sorgenia E&P S.p.A. ("Sorgenia") and by LNG Energy through a subsidiary.
The company is obliged to pay approximately 6.6% of the drilling costs of these first two wells with the other 20% of the Company's interest being paid by RAG and Sorgenia under the terms of the Company's farm-out to RAG and Sorgenia. BNK Petroleum holds 195,000 net acres in Poland through Saponis and a further 880,000 adjacent net acres through another European subsidiary.
The company has also announced the appointment of Jack Wroblewski as its Country Manager in Poland. Mr. Wroblewski has held a number of significant positions in the Polish oil and gas sector. His past positions include General Director of another exploration and production operator in Poland, General Director of the Polish Organization of Oil Industry and Trade, and Deputy Director of the Department of Geology and Director of the Bureau of Geological Concessions for the Polish Ministry of Environment, Natural Resources and Foresty. Mr. Wroblewski holds a Ph.D. in Earth Sciences and a M.Sc. in engineering geology from the University of Warsaw. "We are very pleased that he has joined our company and I feel that he is a great addition to our team." said Wolf Regener, the Company's President and CEO.
BNK Petroleum , through its European subsidiaries, continues to pursue concession applications in various European countries with a view to increasing the number of European basins in which it has holdings. Progress of many of the concession applications is slowing as a result of increased competition and awareness of shale gas potential in Europe.
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