Composite Energy awarded coalbed methane exploration Concessions in Poland
Award marks Composite Energy's international expansion
Composite Energy Limited, the Stirling based specialist in the extraction of methane from deep coal seams, is delighted to announce its international expansion through the award to its Polish subsidiary, Composite Energy (Poland) sp.z o.o of concessions to explore for coalbed methane in Poland.
(You can view a pdf of the 'Poland Licence Areas' )
The two Concessions, known as Chelm and Werbkowice-Tyszowce, are located in the Lublin CoalBasin in South East Poland (see attached location map). Composite has undertaken to drill a minimum of three exploration wells on the acreage by February 2010. The company will open an office in Warsaw.
Keith Lough, Composite Energy's Chief Executive Officer, said:
"We believe there is a large coalbed methane resource in Europe and the award of the concessions in Poland marks the first step in our international expansion plan. The Chelm and Werbkowice-Tyszowce Concessions add a further 1237sqkm to the recently awarded onshore UK Licences. This brings Composite's total area under licence to 3434 sq km.
We are delighted to have received this award and also with the welcome Composite Energy has received in Poland."
You can view a pdf of the 'Poland Licence Areas'.
For further information, please contact:
Composite Energy Ltd |
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Keith Lough, Chief Executive Officer |
+44 (0) 1786 230200 |
Colin Bousfield, Finance Director |
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Aquila Financial Ltd |
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Peter Reilly |
+44 (0)118 979 4100 |
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