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Salvarx Group

16:35 on 24/11/2017

Current Price 31.91p | Bid 28.50p | Ask 34.00p | Change 0.00%

Company Overview

3Legs Resources was established in early 2007 to focus on the exploration and development of unconventional oil and gas resources, with a particular focus on shale gas in Europe. As a first mover in Poland, 3Legs Resources has acquired six exploration and prospection licences covering approximately 1,084,000 acres (gross) in the onshore Baltic Basin, a region considered to be one of the most promising shale basins in Europe. The Company's primary targets in the Baltic Basin are Silurian and Ordovician organic-rich black shales. In addition to these assets, the Company also holds onshore exploration licences over acreage near Krakow in southern Poland and in Baden-Württemberg in south-west Germany, with two further licences under application in France. In August 2009, the Company entered into various agreements with ConocoPhillips. These agreements committed ConocoPhillips to provide financing for initial exploration activities in the Baltic Concessions. ConocoPhillips committed to fund 100 per cent of the costs of an exploration programme in the Baltic Concessions, consisting of 3D seismic surveys and up to three wells in return for an option to acquire a 70 per cent interest in the Baltic Concessions. To date, 3 Legs and ConocoPhillips have completed three seismic surveys and drilled two vertical test wells. The fundraising will be used to pay for drilling commitments primarily in the Baltic Basin in Poland.

Stock Details

Shares in Issue 36,466,619
Market cap £ 11.31m
Sector Health Care Equipment & Services
Indices FTSE AIM All-Share Index

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Price Summary

Mid Price ? 31.25p
Bid Price ? 28.50p
Ask Price ? 34.00p
Volume ? 6280
Change Today 0.00p
% Change Today 0.00%
Open 28.50p
Previous Close 31.25p
Intraday High 31.91p
Intraday Low 28.50p
52 Week High 0.00p
52 Week Low 0.00p

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Broker Consensus

The above information represents a selection of the views and target prices published in the last 120 days by analysts in individual stocks. It is subject to change without notice and may not necessarily be the view held by Redmayne-Bentley.

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