In the context of its strategy to expand its exploration activities beyond the Polish borders, PGNiG S.A. noted the similarities between the geological structures of Denmark and Poland: the main dolomite basin, which is among the key exploration areas in Poland, extends into the territory of Denmark.
An analysis of the available geological data provided basis for identifying the area covered by the 1/05 licence, located on the Jutland Peninsula in the Kingdom of Denmark, as the most prospective one. In December 2007, PGNiG S.A. came to own a 40% interest in the 1/05 licence following an assignment of the interest of WeXco (PGNiG S.A.’s interest increased to 80% in 2009). The other licence holders include Odin Energi A/S and North Sea Partner, also known under its Danish name Nordsofonden. Exploration work on the licence area commenced in 2008. The decision whether to drill an exploratory borehole will be made after a seismic survey is acquired and a number of additional analyses performed in 2010.