GGE has acquired 20.4% of the high impact Boleslaw gas prospect in the Kolo Licence in central Poland with best estimate unrisked Prospective Resources of 87BCF in two target sands.
The Well spud on 11 December 2016 and is anticipated to take 24 days to drill.
Planned TD of 1,500m and expected to cost A$2.8 million
GGE entry cost (includes its share of drilling costs) is contributing to the earning well costs by paying $600,000 on a “ground floor” basis.
GGE will also have a 20.4% interest in the Kolo Licence which covers 1,150 square kilometres. Poland provides a ready market for gas at competitive prices.
Other Partners include Prospex Oil & Gas Plc (PXOG.L:AIM)
Ann: GGE Acquisition of Boleslaw 1, page-2
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