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TransAtlantic to farm-in to Permian/SW Carboniferous Basin of Poland


Published Mar 28, 2014
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TransAtlantic Petroleum Ltd.

San Leon has signed a Term Sheet Agreement with North American independent TransAtlantic Petroleum Limited to farm-in to the Company's extensive acreage position in the Permian/SW Carboniferous Basin of Poland.

Under the terms of the Agreement, TransAtlantic would fund 100% of a six well work program focused on achieving commercial production in the Permian Main Dolomite and Rotliegendes formations while further proving the huge upside potential of the Carboniferous tight gas play.

Based on San Leon's historical costs, the estimated value of the work program is USD 60-70 million, however it is expected that the cost of the program should decrease with the recent increase in service providers in Poland.

Tags: TransAtlantic Petroleum Corp.



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