3Legs Resources plc 3LEG Operational Update

  3Legs Resources plc (3LEG) - Operational Update

RNS Number : 5146Q
3Legs Resources plc
07 November 2012




7 November 2012





3Legs Resources plc



Operations on Baltic Basin concessions in northern Poland



3Legs Resources plc (the "Company"), an independent oil and gas group focusing
on the exploration and  development of unconventional  oil and gas  resources, 
announces the following operational update.



Key points



· The Company commenced  further testing of  the Lebien LE-2H  horizontal 
well on 27 October 2012, flowing natural gas initially with the assistance  of 
a nitrogen lift.

· The well has continued to flow natural gas unassisted, through 3½  inch 
tubing, since the nitrogen lift was suspended on 29 October.

· The well has  flowed continuously and unassisted  at a rate of  between 
560 and 780 mscf/d of natural gas over the 8-day period since 29 October.

· The well has also  produced between 320 and  450 barrels of frac  water 
per day  as  it  has  continued  to  clean up,  and  as  at  6  November  2012 
approximately 26% of the frac water originally injected had been recovered.

· This performance  represents a  significant improvement  on the  result 
achieved when the well was  first tested in 2011  where the well flowed,  with 
the assistance of a  nitrogen lift, at  a rate of between  450 and 520  mscf/d 
over an 8-day period prior to being shut in.

· The  plan is  to  continue further  testing of  the  well in  order  to 
determine a  stabilised  flow rate  and  to  gather additional  data  on  well 
performance.

· The Company will issue a further update to the market in due course.



Kamlesh Parmar, Chief Executive of 3Legs Resources,said:



"We have started  further testing of  the Lebien  LE-2H well and  we are  very 
pleased that  the well  is  showing a  significantly improved  performance  as 
compared to 2011,  in that  the well  now flows  without the  assistance of  a 
nitrogen lift, and it  flows at a better  rate than it did  in 2011. We  will 
continue to monitor the  encouraging data from this  further testing and  will 
issue a further announcement in due course."





For further information contact:



3Legs Resources plc                       Tel: +44 1624 811 611
Kamlesh Parmar, Chief Executive Officer
Alexander Fraser, Chief Financial Officer
Jefferies Hoare Govett                    Tel: +44 207 029 8000
Simon Hardy
Jamie Buckland
College Hill                              Tel: +44 207 457 2020
Matthew Tyler
Catherine Wickman





Notes to Editors



3Legs Resources was established in early 2007 to focus on the exploration  and 
development of unconventional oil and gas resources. A first mover in Poland,
3Legs  Resources  holds  interests  in  six  licences  covering  approximately 
1,084,000 acres (gross)  in the  onshore Baltic  Basin in  northern Poland,  a 
region considered to be one of the most promising shale basins in Europe. The
Company also holds onshore exploration licences near Krakow in southern Poland
and  has  licences  in  Baden-Württemberg  in  south-west  Germany  which  are 
currently undergoing renewal.



The technical information  and opinions  contained in  this announcement  have 
been reviewed by John Blair (MSc in Geophysics, University of Tulsa and BSc in
Geology from Montana State University), Exploration Manager of 3Legs Resources
plc, who has over 25 years of experience in the oil exploration and production
industry. He  has  consented  to  the  inclusion  herein  of  such  technical 
information and opinions.



www.3legsresources.com

                     This information is provided by RNS
           The company news service from the London Stock Exchange

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