Realm Energy International Corporation (TSX: RLM) has reported that it is commencing exploration activities in Poland.
Leading Realm Energy's Polish exploration is Mike Mullen, chief operating officer, and Karl DeMong, vice president of operations, both of whom have considerable experience in pioneering major new shale plays in North America which have been developed into large-scale commercial operations. The primary targets in Poland are the multiple shale formations within the lower Silurian, Ordovician and Cambrian geological periods. In the process of evaluating these organic rich shale intervals, Realm Energy is proceeding with a regional geological study in confluence with new and existing seismic data.
As a result of meetings with local community leaders, assessing surface topography and concession surface area limitations, Realm Energy's initial assessment of its lands accessible by modern horizontal drilling techniques on the company's 100% Gniew license comprise up to 91%, or 267,809 acres of the company's total acreage of 294,296.
The company is now designing seismic programs on its lands, and expects to shoot in aggregate 150km of 2D seismic once the necessary permits have been granted and locations have been scouted. In addition, Realm is currently reprocessing 470 km of existing seismic data.
With Realm Energy's cash position of approximately $26.5 million, the company intends to move forward with drilling programs on its substantial acreage positions once seismic surveys have been completed and potential well locations determined. Importantly, seismic acquisition and drilling activities for the exploration wells are being arranged to work within a period that respects a commitment to environmental responsibility, work closely with the local stakeholders, and take economic advantage of equipment and service availability in the region.
"We are commencing our own exploration program in the heart of Poland's Baltic Silurian shale play," said Mullen. "With all the drilling activity that is occurring around our license areas in Poland, it is the ideal time for us to move up our development schedule and begin our seismic acquisition program that will help us select drilling locations in preparation for the drilling of our first well."
Polish Sedimentary Basins
Under three separate licenses, Realm holds 635,541 gross acres (2,572 km2) and 464,918 net acres (1,881 km2) in Poland. The largest license, "Gniew", located in the Baltic basin is held 100% by Realm Energy and covers 294,296 acres (1,191 km2). Two other licenses, "llawa", also located in the Baltic basin, and "Wegrow", located in the Podlasie basin, cover 161,109 acres (652 km2) and 180,136 acres (729 km2) respectively, and are held 50% by Realm Energy.
For more detailed information on the location of these concessions, please view the maps on Realm Energy's website.
Other European Sedimentary Basins
In collaboration with Halliburton Consulting, Realm Energy has targeted additional shale resource opportunities in eight separate sedimentary basins throughout Europe. These shale plays comprise approximately 4.4 million acres of exploration permits, which are currently under government application.
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