Hutton Poland Secures Kolo License

UK-based Prospex Oil & Gas announced Thursday that Hutton Poland Limited, a company it holds a 49 percent interest in, has been awarded the Kolo License in Poland.

The four year exploration license comprises two phases of work, each of which is two years long. As part of the deal, Hutton has agreed to carry out the acquisition of 31 mile 2D or 10 square mile 3D seismic data in phase one and the drilling of one well in phase two.

Prospex has revealed that the directors of Hutton believe the Boleshaw prospect on the Kolo License is ready for drilling, with a drill location determined. It is anticipated that the first well will be drilled in 2016, subject to environmental permitting. 

Prospex Chairman Bill Smith commented in a company statement:

"We are delighted that the license has been finalized. This will really allow the work on the ground to continue at a pace and we look forward to providing further updates to our shareholders."



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Total Sells Gabon Assets to Perenco fo... (Feb 27)
 -  Transformative Role of 3D Printing in ... (Feb 27)
 -  Roxi, Baverstock Looking to Merge Erag... (Feb 27)
 -  Lundin Norway Makes Oil, Gas Find in B... (Feb 24)
 -  PSA: Norway's Petroleum Industry Must ... (Feb 24)


Most Popular Articles

From the Career Center
Jobs that may interest you
Site Manager / Project Manager Fuels
Expertise: Project Management|Site Engineer
Location: Kennesaw, GA
 
Regional Manager - Saybolt
Expertise: Business Development|Operations Management|Surveying
Location: Linden, NJ
 
Business Development Representative - Saybolt
Expertise: Business Development|Sales
Location: New Orleans, LA
 
search for more jobs

Brent Crude Oil : $55.99/BBL 1.04%
Light Crude Oil : $53.99/BBL 0.84%
Natural Gas : $2.63/MMBtu 0.38%
Updated in last 24 hours