Prospex: Drilling in Poland's Onshore Kolo License Begins



Prospex Oil and Gas Plc announced Monday that the Boleslaw-1 well in Poland’s onshore Kolo license has been spudded.

Boleslaw-1 is targeting gas in an active petroleum system and the Boleslaw prospect has been independently assigned a gross Prospective Resource (best estimate) of 87 billion cubic feet of gas. Drilling prior to wireline logging, which is being undertaken by Exalo Drilling SA, is expected to take 28 days. 

"We are delighted to announce that drilling at Boleslaw is now underway, on time and on schedule,” Prospex non-executive Chairman, Bill Smith, said.

Kolo is 100 percent owned by Strzelecki Energia Sp z.o.o, a wholly owned subsidiary of Hutton Poland Limited, in which Prospex holds a 49 percent interest.



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