3Legs Resources published results of production tests made in Lublewo LEP-1STH

British 3Legs Resources Company published today results of production tests made in Lublewo LEP-1ST1H Well (Pomerania). Uninterrupted gas flow rates have been on average equal to 11,200 cubic metres per day. This is less than expected, but the company reported crude oil flow rates that are higher than anticipated (157 light crude barrels per day). The Company announced it will exercise the option to transfer shares to ConocoPhilips, the holder of majority stake in the project.

As 3Legs Resources announced in its press release, the well has produced on average 11,200 cubic metres of gas throughout the flow test since the beginning of August. On the other hand, light crude has been produced at a higher than expected rate (approx. 4000 m3). In the past few day the flow rate has been higher and reached approx. 14,500 cm per day.

The Company emphasized that hydraulic fracturing operations, the largest delivered so far in Poland, were successful. A 1500 m long horizontal leg was fracture stimulated in 25 sections. Approximately 3500 tonnes of proppant were placed in the induced fractures, which testifies to the success of the operation. For comparison, as little as approx. 1,300 tonnes of proppant were placed in the fractured rock at Łebień-2H Well (wprowadzono do skały jedynie około 1300 ton proppantu (the horizontal leg was roughly 900 m long with 14 fracture stimulation jobs made).

Despite these encouraging results, the Company concluded that that gas production is lower than expected and decided to transfer its shares in the project. 3Legs Resources had an option to transfer its interest once its expenditure on exploration in 2014 reaches a limit of USD 19 million. This limit has been reached.

3Legs Resources held minority interests (30%) in three concessions located in the Baltic Basin (Pomerania). All of them have been transferred to ConocoPhillips.

Lublewo Well operations will continue – said Tim Wallace, ConocoPhillips Director for Poland.

The concessions in which 3Legs Resources held an interest are considered as the most prospective in Poland in terms of potential commercial shale gas production.

The presented results of reservoir tests made following fracture stimulation in the Lublewo LEP – 1 ST1H Well have confirmed the presence of natural gas and crude oil in Ordovician shales of the Baltic Basin.

At this stage of exploration, these results attest to the prospectivity of that area so that more exploration operations are expected to be delivered in the Pomeranian concessions.



source: 3Legs Resources

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