Europe-focused oil and gas exploration and production company Aurelian said equipment is now finally in place to start the fracture simulating and flow test of the Trzek-2 well in the Siekierki Tight Gas project in Poland.

The company had suffered a delay in mobilizing the necessary equipment when flooding occurred as the snowfall thawed.

The fracture simulation is expected to last up to seven days, after which the well will be tested for 15 to 30 days. Test results should be released in mid to late March.

"The test results from the Trzek-2 well are the most important near-term catalyst for the stock, in our view," said Vugar Allyev, an analysit for Matrix. "Achieving sustainable flow rates of 8-10 mmscf/d [millions of cubic feet per day] would confirm the commerciality of the project (346 bcf net to AUL), leading to greater market recognition, we believe."

Aurelian also suffered delays in mobilising equipment for the Trzek-3 well site. The well commenced drilling on 26th January and is expected to be completed and flow tested by the end of June. Trzek-3 targets a separate high in the Siekierki structure with a recoverable resource estimated at between 16 and 28 billion cubic feet.

A contract to drill two additional wells in the greater Siekierki Area during the second half of 2011 has been signed with Polish drilling company Nafta Pi?a. The additional wells are targeting 100 billion cubic feet (net to Aurelian) of gas