Realm Energy International Corporation (CVE:RLM) announced its successful land acquisition in Spain for shale gas exploration.
Realm Energy International Corporation (TSXV:RLM) announced its successful land acquisition in Spain for shale gas exploration.
The press release is quoted as saying:
Realm Energy, in collaboration with Halliburton Consulting, has been evaluating shale plays in numerous sedimentary basins in Spain for approximately two years. Following this detailed evaluation, the Company submitted 10 applications in five discrete sedimentary basins, collectively comprising over 2.2 million acres (8,903 km2).
Realm Energy Chairman & CEO, Craig Steinke, commented,
“As a result of this recent success, Realm Energy is now well positioned in five discrete sedimentary basins making the Company one of the largest landholders for shale gas exploration in Spain. This presents a tremendous growth opportunity for the Company as Spain also has a proven and stable fiscal system that ranks in the top 10% worldwide. Economic conditions are also attractive, as Spain is currently dependent on imports for its natural gas supply, and gas prices in the country are typically at a premium to prices found elsewhere in Western Europe.”