What happened to LNG Energy?

[Gator]

I see it has been cut in half the past few days. Anybody know anything?

[Petrovale]

Latest news I could find, dealt with farm-out process in respect of PPL 319 in PNG. Risky stock, when many want to exit at the same time.

[Tusker]

No more fracking in Bulgaria - that was a loss.
XOM pulled out of PL.
Waiting on PNG I guess.

Tusk

[admin]

Fracking in Poland delivered disappointing results, but I can't remember which company

[sageo]

Fracking in Poland delivered disappointing results, but I can't remember which company

Adim- It was Exxon.

[admin]

Fracking in Poland delivered disappointing results, but I can't remember which company

Adim- It was Exxon.

Yea, thanks:

Poland May Cut Shale Gas Estimates After Data From Wells
By Marek Strzelecki - Mar 1, 2012 2:55 PM GMT+0100
Poland’s estimated shale gas reserves, believed to be the largest in Europe, may be cut once data is analyzed from the country’s first wells, the Polish Geological Institute said.
“Core logs from Polish wells are being analyzed with the help of U.S. technology,” Miroslaw Rutkowski, a spokesman for the institute, said by phone. “As result, we’re expecting that our estimates will be lower than those of the EIA,” he said, in a reference to the Energy Information Administration.

[sageo]

Fracking in Poland delivered disappointing results, but I can't remember which company

Adim- It was Exxon.

Yea, thanks:

Poland May Cut Shale Gas Estimates After Data From Wells
By Marek Strzelecki - Mar 1, 2012 2:55 PM GMT+0100
Poland’s estimated shale gas reserves, believed to be the largest in Europe, may be cut once data is analyzed from the country’s first wells, the Polish Geological Institute said.
“Core logs from Polish wells are being analyzed with the help of U.S. technology,” Miroslaw Rutkowski, a spokesman for the institute, said by phone. “As result, we’re expecting that our estimates will be lower than those of the EIA,” he said, in a reference to the Energy Information Administration.

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Admin-Thanks for your interest in LNG energy. I have often wished that they would have spent their money and time on ppl 319 and ppl 321 in PNG. The seismics they now have in those two areas look very good for prospecting, IMHO. Poland may (eventually) work out, but I sure believe they are being short-sighted on their PNG leases. Again, thanks and good luck to you!

[admin]

My pleasure, Sageo, we'll keep on following it.