PGNiG Applies for Poland Shale Oil Licenses

Mar. 17, 2011 10:58AM PST

Reuters reports that Poland’s gas monopoly PGNiG (WAR:PGN) intends to apply for five licenses to explore potential unconventional shale oil resources in Poland.

The press release is quoted as saying:

The licenses will add to shale gas licenses PGNiG already owns, Marek Karabula said. The monopoly, which produces some 4 billion cubic metres of conventional gas annually, has 15 licenses for its unconventional gas and expects some more precise estimates of its resources in the second half of 2011.

Click here to access the entire press release