2011-02-18-2011-02-07-2011-02-21

Acquired 50% WI in Joyce Podlasie LLC & 50% WI in Maryani Podlasie LLC, which hold interests in Ilawa & Wegrow concessions in Poland, respectively.

LNG Energy Ltd., Vancouver, B.C., (Toronto Venture: LNG) reports that its wholly owned subsidiary, Kaynes Capital Sarl, has completed the acquisition of a 50% interest in Joyce Podlasie LLC and a 50% interest in Maryani Podlasie LLC from Source Energy Partners LP for US$4 million.

Joyce indirectly holds an undivided 100% interest in the Ilawa Concession in Poland and Maryani indirectly holds an undivided 100% interest the Wegrow Concession in Poland. The remaining 50% of Joyce and Maryani are both owned by Realm Energy (BVI). Together the Ilawa and Wegrow Concessions comprise approximately 360,000 acres and will increase LNG's net Polish shale gas acreage by approximately 180,000 acres. This acquisition provides LNG one of the larger acreage positions in the Baltic Basin.

This new acquisition gives LNG Energy a gross acreage position in Poland of approximately 1.1 million acres in 5 separate concessions, and approximately 326,000 net acres.

LNG will assume Source's obligations and pro rata 50% financial commitments in the concessions. These financial commitments are limited in 2011 and 2012 and do not require drilling or major capital expenditures. The closing of this acquisition is subject to a number of conditions, including the completion of due diligence, and is scheduled to close on February 14, 2011.