Realm Energy will own the remaining interests in Joyce and Maryani.
Joyce indirectly holds an undivided 100% stake in the Ilawa concession and Maryani indirectly holds an undivided 100% interest the Wegrow concession in Poland.
The Ilawa and Wegrow concessions together comprise approximately 360,000 acres and will increase LNG’s net Polish shale gas acreage by approximately 180,000 acres.
LNG will assume Source’s obligations and pro rata 50% financial commitments in the concessions.
The two new concessions along with LNG’s existing acreage are within the Baltic shale gas basin.
LNG is focused on developing oil and gas reserves in Papua New Guinea, Poland and the US.
