LNG Energy Completes Acquisition of Polish Shale Gas Acreage

LNG Energy Ltd. (TSXV:LNG) acquires of a 50% interest in Joyce Podlasie LLC and a 50% interest in Maryani Podlasie LLC from Source Energy Partners LP for US$4 million.

The press release is quoted as saying:

Joyce indirectly holds an undivided 100% interest in the Ilawa Concession in Poland and Maryani indirectly holds an undivided 100% interest the Wegrow Concession in Poland. Joyce and Maryani comprise approximately 360,000 acres and will increase LNG’s net Polish shale gas acreage by approximately 180,000 acres. This new acquisition gives LNG Energy a gross acreage position in Poland of approximately 1.1 million acres in 5 separate concessions, and approximately 326,000 net acres.

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