"Moving to Europe, our portfolio in Germany includes a prospective shale gas opportunity, covering almost 900,000 net acres and a coal bed methane play covering an additional 2 million net acres. In Hungary, we continue to evaluate our tight gas acreage. Most recently, we established a significant onshore acreage position in Poland with over 1 million net acres, where we believe there is significant shale gas potential."
Seems like even the Russians are preoccupied with the European unconventional plays. Read this article or click on the video.
http://rt.com/Business/2010-01-08/unconventional-gas-market-dilemma.html
“Analysts say rising unconventional gas development and slowing demand may threaten Russia’s long term market position. Unconventional today – it could become conventional tomorrow. Currently the gas which could be extracted from sand, coal, turf and shale, is called unconventional. However, the US already gets half its production from new sources. Within the EU, the UK, Poland and Hungary are still at pilot project stage.”
However, Exxon’s imminent TXO acquisition will change that distinction. Remember what Dr. Szabó said all along: “Production will start in 2012”
