KEYFACT Energy
The Polish government has signed an agreement awarding Central European Petroleum Ltd. exclusive rights to explore for, develop, and produce hydrocarbons within the 593 square kilometer Wolin concession, which straddles the Baltic Sea coast adjacent to the Polish/German border. The initial term of the concession is ten years.
During the initial five-year exploration phase, the Company is committed to undertake a work program including the acquisition of 2D and 3D seismic data and the drilling of two exploration wells. The Company has a 100% working interest in the concession.