Multi-Zone Gas and Oil Discovery in Poland's Eastern Baltic Basin -- And A Coincidental Link to the US Alberta Bakken

Updates

A few hours later: it is always amazing what dot connects to another dot. I had no idea there was a connection between Poland and the Bakken -- the Alberta Bakken, in this case.  See first comment ("thank you" to "anon 1." First: this link to FX Energy.

FX Energy, Inc., is an independent oil and gas company focused on Poland.  We believe Poland’s hydrocarbon producing areas are underexplored because the country was closed to competition from foreign exploration companies for many decades.  FX Energy has accumulated a large land position in known productive areas, assembled a sophisticated technical team, and generated a number of attractive gas prospects.

Then a link to their corporate presentation.  Slide 28/30 shows the company's link to the US Alberta Bakken.

• FX has a joint venture with American Eagle Energy, Inc., and Big Sky Operating LLC to participate in a broader area of the southern Alberta Bakken play
• The joint venture holds an acreage spread of approximately 75,000 net acres, including FX’s Cut Bank acreage below the Cut Bank horizon; each party holds a one-third interest
• In 2011 the FX JV parties drilled 3 vertical wells and tested oil in the Lodgepole, Bakken and Three Forks; the parties also drilled and fracked a 3,600’ lateral (currently testing) on one of the three wells
• Starting in March the parties plan to drill two more vertical wells and drill, frac and test a 4,000’ lateral on one of the vertical wells drilled in 2011

Original Post

I normally would not have posted this as a stand-alone post, but the timeliness of the article is too good to pass up.

I am an eternal optimist (one of the reasons why I am not a great investor -- smile) and don't have much tolerance for 24/7 pessimists. So this is too much "fun" to pass up.

Yesterday, I linked a story about the Polish shale gas story and how it might upset the Russian gas monopoly in eastern Europe. A realist reminded me that just 'cause there's shale there (in Poland) doesn't mean it can be productive, noting that XOM had drilled two dry holes.

So, it was great to receive this link about a multi-zone gas and oil discovery in Poland's eastern Baltic basin.

Talisman Energy Inc. has set production casing at an indicated multizone discovery in Poland’s eastern Baltic basin.

Partner San Leon Energy PLC said the Rogity-1 well on the Braniewo S concession went to 2,788 m and encountered continuous gas shows over more than 500 m of the Lower Silurian, Ordovician, and Middle Cambrian sections. The rich gas shows consisted of heavy hydrocarbons, including C1-nC8, San Leon said.

The richness of the gas shows is consistent with a wet gas system, confirming the company’s regional model of the eastern side of the basin being in the oil window, San Leon said. The strongest gas shows, along with indications of oil, were encountered in the Lower Silurian interval, estimated to be more than 100 m thick. Oil shows were also found in Ordovician limestones and shales and in Middle Cambrian sandstone.