Oil & gas licenses in poland

oil & gas licenses in poland

Acquiring a proven, but undeveloped field and a large acreage position

Agreements were executed to acquire 100% interests in five concessions from San Leon Energy plc.

  • Closing expected mid-2018 (long-stop date September 19, 2018)
  • US$1 MM in cash, C$1 MM in Horizon common shares and a 6% Net Profit Interest (NPI)
  • 1,130 km2 (279,323 acres) in two licenses (Bielsko-Biala, Cieszyn) in the Carpathian foldbelt
  • Lachowice natural gas development
    2P reserves: 36 Bcfe (NPV10 : US$98 MM)
    Risked 2C resources: 171 Bcfe (NPV10: US$398 MM)
    Risked prospective resources: 123 Bcfe
  • Options to acquire 1,898 km2 (466,970 acres) in three licences (Buchowice, Kotlarka and Prusice) in the prolific Permian-aged Rotliegendes natural gas basin. The Buchowice concession is under application with Kotlarka and Prucise is awaiting final award.

    Bielsko-Biala Concession: Lachowice field

    • 950 km of legacy 2D seismic
    • Located in the Carpathian foothills 50 km south of the city of Krakow
    • Discovered with Lachowice-1 in 1986
    • Seven wells drilled 1986 – 1996:
    • 7 wells confirmed 130m – >300m gas columns
    • 3 wells tested gas at commercial rates up to
      8.9 MMscf/d (see map)
    • Wellbores’ integrity compromised by poor drilling and operating practices
    • No confirmed Gas-Water Contact penetrated by the wells
    • Devonian aged naturally fractured carbonate reservoirs. Development through horizontal wells to optimize access to fracture systems

    Kotlarka, Prusice, Buchowice Licences

    • Incremental reserve addition opportunities to increase natural gas resource inventory
    • Limited use of 3D seismic & horizontal well technologies outside of PGNiG legacy producing fields