Realm Energy to Commence Exploration Activities in Poland
05 Mai 2011 - 3:00PM
Marketwired
Realm Energy International Corporation ("Realm Energy" or the
"Company") (TSX VENTURE: RLM) (www.realmenergy.ca) announces that
it is commencing exploration activities in Poland.
Leading Realm Energy's Polish exploration is Mike Mullen, Chief
Operating Officer (COO), and Karl DeMong, VP Operations, both of
whom have considerable experience in pioneering major new shale
plays in North America which have been developed into large-scale
commercial operations. The primary targets in Poland are the
multiple shale formations within the lower Silurian, Ordovician and
Cambrian geological periods. In the process of evaluating these
organic rich shale intervals, Realm Energy is proceeding with a
regional geological study in confluence with new and existing
seismic data.
As a result of meetings with local community leaders, assessing
surface topography and concession surface area limitations, Realm
Energy's initial assessment of its lands accessible by modern
horizontal drilling techniques on the Company's 100% Gniew license
comprise up to 91%, or 267,809 acres of the Company's total acreage
of 294,296.
The Company is now designing seismic programs on its lands, and
expects to shoot in aggregate 150km of 2D seismic once the
necessary permits have been granted and locations have been
scouted. In addition, Realm is currently reprocessing 470 km of
existing seismic data.
With Realm Energy's cash position of approximately $26.5
million, the Company intends to move forward with drilling programs
on its substantial acreage positions once seismic surveys have been
completed and potential well locations determined. Importantly,
seismic acquisition and drilling activities for the exploration
wells are being arranged to work within a period that respects a
commitment to environmental responsibility, work closely with the
local stakeholders, and take economic advantage of equipment and
service availability in the region.
Mike Mullen, COO, commented "We are commencing our own
exploration program in the heart of Poland's Baltic Silurian shale
play. With all the drilling activity that is occurring around our
license areas in Poland, it is the ideal time for us to move up our
development schedule and begin our seismic acquisition program that
will help us select drilling locations in preparation for the
drilling of our first well."
Polish Sedimentary Basins
Under three separate licenses, Realm holds 635,541 gross acres
(2,572 km2) and 464,918 net acres (1,881 km2) in Poland. The
largest license, "Gniew", located in the Baltic basin is held 100%
by Realm Energy and covers 294,296 acres (1,191 km2). Two other
licenses, "llawa", also located in the Baltic basin, and "Wegrow",
located in the Podlasie basin, cover 161,109 acres (652 km2) and
180,136 acres (729 km2) respectively, and are held 50% by Realm
Energy. For more detailed information on the location of these
concessions, please view the maps on Realm Energy's website at
www.realmenergy.ca.
Other European Sedimentary Basins
In collaboration with Halliburton Consulting, Realm Energy has
targeted additional shale resource opportunities in eight separate
sedimentary basins throughout Europe. These shale plays comprise
approximately 4.4 million acres of exploration permits, which are
currently under government application.
About Realm Energy
Realm Energy International Corporation is a Canadian domiciled
global energy company focused on driving the exploration and
development of major shale plays throughout Europe and emerging
countries. The Company presently has projects in Poland and Germany
and is in the process of acquiring additional petroleum and natural
gas rights in other European basins which have been identified as
high potential. Realm Energy is committed to leveraging the most
advanced shale technology to bring these resources into production.
Visit Realm Energy's website at www.realmenergy.ca.
REALM ENERGY INTERNATIONAL CORPORATION
Craig Steinke, Executive Chairman & CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This
news release includes certain "forward-looking statements" within
the meaning of applicable Canadian provincial securities
legislation. Forward-looking statements include, but are not
limited to statements with respect to the possible acquisition of
rights to exploration lands that remain under application, the
ultimate suitability of lands for drilling for gas development, and
the possibility of Realm entering into a joint venture to develop
yet to be secured lands in the Paris Basin. Forward-looking
statements are necessarily based upon estimates and assumptions
that, while considered by the Company's management to be
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; the delay or failure to receive regulatory
approvals, including rights to lands under application, the
characteristics and viability for gas development on lands that
have yet to be fully explored and assessed, the willingness of
third parties to conclude agreements with Realm on terms that are
acceptable to Realm management, and the ability of Realm to secure
sufficient future funding to carry out all of its business plans.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law or the policies of the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Media Contact: Curve Communications Brian Paterson T:
604.684.3170 ext. 102 / C: 778.319.4165
brian@curvecommunications.com Investor Relations: Contact Financial
Keir Reynolds T: 604.689.7422 keir@contactfinancial.com Corporate
Enquiries: Realm Energy International Corporation Kevin Rathbun,
Chief Financial Officer 604.637.4974 ext. 33 info@realmenergy.ca
www.realmenergy.ca
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