3Legs Resources plc Shale Gas Exploration in Poland September 2013 ESGOS London
Overview Founded in 2007, 3Legs Resources is a leading independent E&P company focused on Polish unconventional oil and gas resources Acquired 6 exploration licences in the Baltic Basin in northern Poland in 2007-08 Used first…
First to licence for shale in Poland August 2008 November 2010 San Leon / Talisman 3Legs Resources 3Legs Resources / ConocoPhillips Marathon BNK Petroleum / RAG/ ExxonMobil Sorgenia Chevron 4 3Legs had the pick…
3Legs activity in the Baltic Basin Activity on 3Legs concessions 30km 2009- 225 sq km of 3D seismic acquired in 3 shoots Strzeszewo LE-1 2011 across 3 concessions Lebien LE1 & LE-2H 2010 2 vertical wells, Lebien LE-1 and Legowo…
3Legs horizontal well results 2011-12 Well Design 2011 results 2012 results Lebien LE-2H, 1,000m horizontal Tested for 17 days Flowed unassisted at 550 mscf/d completed Sep 2011 section within Flowed at 450-520 mscf/d for 21 day natural…
Current year activity Strzeszewo LE-1 vertical well 3Legs high- graded area First hydraulic fracture stimulation executed in Karwia Cambrian Alum horizon Q2 2013 Strzeszewo LE-1 Natural gas flowed to surface and flared; well shut…
Improved geological understanding Thermal maturity, Ordovician Llandovery Analysis of logs and cores from Lebien LE-1, Warblino LE-1H and Strzeszewo LE-1 Strzeszewo LE-1 wells is still continuing Preliminary conclusions are…
US analogy Shows well performance can improve significantly as appraisal stage progresses Average production rates by year Average reserves per well by year Fayetteville shale Fayetteville shale 5,104 4,345 3,117 DOFP =…
Regulatory update Polish Government Draft hydrocarbon law revised June 2013 Industry response: Supports reduced regulatory burden for wells…
Community engagement Presentations/meetings with regional, district and village leaders Frequent local engagement Open days and town hall meetings for members of local communities Sponsorships of events and community projects…
The Lebien Report a clean bill of health In March 2012, the Polish Geological Institute published a report on the impact of the multi-stage hydraulic frac carried out at 3Legs Lebien LE-2H well in August 2011 The Lebien Report…
Indicative work programme 2013-14 Planned activity to end 2014 Western Baltic Basin concessions 2013 2014 Activity Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Strz esz ewo LE-1 DFIT/frac/testing Lebien LE-2H Further testing First 2013/14 well…
Outlook Have successfully flared gas from all 4 wells on our western Baltic Basin concessions Updated geological model confirms 3Legs licences as the prime Baltic Basin acreage We attribute a higher probability of success to our…
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