BNK Petroleum believes that the preliminary data it has analyzed, indicates that the makeup of the some of the shales within its Polish concessions, are silica rich and appear to have thermal maturities and total organic carbon in a range that could make them successful shale gas projects. Over the coming months, BNK Petroleum intends to do further work by analyzing cores from previously drilled wells to determine the first well location.
BNK Petroleum intends to drill its first well in 2010. Each concession requires the spudding of a well within 18 months of the concession award date. BNK Petroleum is entertaining partnerships for the exploration phase of this project. The company is also undertaking geologic mapping and data acquisitions in other parts of Europe in order to evaluate additional opportunities.
