3Legs Expects Next Well to Spud in 4Q 2013

Onshore Poland-focused 3Legs Resources reported Thursday that it expects its next well to spud during the fourth quarter of 2013. The firm said its preferred drilling contractor has been selected and a drilling contract is being finalized.

Reporting an update on it operations in the onshore Baltic Basin, northern Poland, 3Legs said it successfully executed a hydraulic fracture stimulation in the Cambrian Alum shale at its Strzeszewo LE-1 vertical well in May 2013. Post-frac evaluation indicates that the proppant was successfully delivered into the target formation, with the well now shut-in in preparation for a flow test.

At the Lebien LE-2H horizontal well further testing began in mid-May, using nitrogen assistance to initiate production. 3Legs said that activity has been suspended here but will recommence in early July.

3Legs said that the rest of its 2013 work program is continuing as planned, with a number of new well locations having been leased. The plan remains to drill and test two vertical wells, with the option to drill one or two additional vertical wells and additionally to drill and test one or more new horizontal sections.

Meanwhile, the acquisition of around 12 square miles of 3D seismic on the Karwia concession is expected to be completed by the end of July.

3Legs Chief Executive Kamlesh Parmar commented in a company statement:

"Our 2013 work program continues to advance.  We look forward to restarting testing of the Lebien LE-2H well, and to testing the Strzeszewo LE-1 well, in July 2013.  Good progress has also been made in relation to the 2013 drilling program as we work towards the spudding of our next well in the fourth quarter of 2013." 

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