Auxillium to Increase Focus on Polish Shale Gas
Apr 11th 2013 9:47AM
Updated Apr 11th 2013 9:52AM
Auxillium to Increase Focus on Polish Shale Gas
WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- AUXILLIUM ENERGY INC. ("AUXILLIUM" or the "Company"), (OTCQB: AXLM) is pleased to announce that it is accelerating its efforts in the exploration of potential opportunities in the Baltic Sea area of Northern Poland.
The Company's management identified Poland as an excellent prospect for oil and gas exploration based on EIA data that indicates Poland may contain the largest estimated shale gas reserves in Europe. Poland contains approximately 777 trillion cubic feet (TCF) of shale gas, with an estimated 67 trillion cubic feet that is technically recoverable. In particular, most of the shale gas is in the Baltic Sea area in the region of the Lublin Basin and in the Podlasie region.
The potential of Poland has not gone unnoticed with the Polish government having granted 111 shale gas exploration concessions covering 29% of Poland to date. The shale gas boom in Poland has attracted oil majors and independents such as PGNiG, Marathon Oil, Talisman Energy, Chevron, etc.
"The Company's increased effort in Poland is shaping up to be a fantastic opportunity for both Auxillium and its shareholders," said Mr. Warmond Fang, the company's CEO. "I believe that Poland has great potential to be the next major shale gas play if you look at what is happening in Europe. With bans on hydraulic fracturing in France, Bulgaria, and resource rich regions in Spain, Poland has a near monopoly of this valuable resource. It is an exciting time for Auxillium as we take steps to strategically position ourselves as a potential player in the evolving Polish shale gas industry."
About Auxillium Energy Inc.
Auxillium Energy Inc., is a US based oil and gas exploration company that focuses on exploration and development of conventional and unconventional hydrocarbons. Through its wholly owned subsidiary Auxillium Alaska Inc., the company has two strategic oil and gas leases covering 9,600 acres in the North Slope Foothills of Alaska.
Legal Notice Regarding Forward Looking Statements:
The information presented herein contains certain statements that may be deemed "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities and Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts and may be "forward looking statements". All statements other than statements of historical fact, that address events or developments that Auxillium Energy Inc., expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Auxillium Energy Inc., believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, but are not limited to, market prices, exploration and drilling success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Auxillium Energy Inc.'s management on the date the statements are made. Auxillium Energy Inc., undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
KEYWORDS: United States Europe North America Poland New York
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