Exploration and development firm 3Legs Resources has agreed changes to the terms of its three licences in Southern Poland with the Polish Ministry of Environment.
The changes enable the company to acquire about 70 kilometres (km) of two-dimensional (2D) and 50 square km of 3D seismic data, to be followed by the drilling of an exploration well.
The company has awarded a contract for the seismic acquisition to Acoustic Geophysical Services.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chief Executive Peter Clutterbuck said: "Our primary focus remains the commercial development of the Baltic Basin where we are continuing to do further analysis on the results of our two recent wells and we are engaged in a planning process for the 2012 programme."
The share price rose 3.17% to 65p by 14:34.
NR
-
Lloyds axes foreign currency fees for Club Lloyds customersClub Lloyds customers will be able to withdraw their money abroad without incurring any extra fees
-
How to invest during stagflationTrump’s tariffs look poised to push the global economy into a period of stagflation. We look at how to ensure your investments can survive a global slowdown.
