3Legs Resources Drilling Update

18 July 2011
3Legs Resources Drilling Update

Spudding of Warblino LE-1H horizontal well

3Legs Resources plc (the “Company”), a company focussed on the exploration and development of unconventional oil and gas resources with a particular focus on shale gas in Europe, announces the following drilling update.

Highlights

  • Warblino LE-1H well spudded; vertical pilot well followed by horizontal section
  • 25 km step-out from recent Lebien LE-2H horizontal well

On 17 July 2011 the Company spudded the Warblino LE-1H well on its Damnica licence, at a location approximately 25 km to the west of its recent Lebien LE-2H horizontal well on the Lebork licence. The Warblino LE-1H well will be drilled initially as a vertical pilot well to enable detailed core and log analysis of the target lower Palaeozoic shales. The well will then be plugged back and a lateral horizontal section will be drilled. The
Company is working with the same drilling contractor as for its Lebien LE-2H horizontal well.

Peter Clutterbuck, Chief Executive of 3Legs Resources, said:

“We have now spudded the fourth well in our programmes on the Baltic Basin licenses, which will be, to the best of our knowledge, the second horizontal shale gas well to be drilled in Poland.”

“This well represents a 25 km step-out from our recent Lebien LE-2H horizontal well and we anticipate that it will significantly advance our understanding of the regional geology and its potential for shale hydrocarbons.”