PRD lifts German acreage

German soccer fans wave the German flag in the city center of Stuttgart, Germany, Wednesday, June 25, 2008, prior to a public screening of the Euro 2008 semifinal match between Germany and Turkey. (AP Photo/Thomas Kienzle)

Flying flag: PRD in Germany

Thomas Kienzle

Steve Marshall

 23 January 2013 14:28 GMT

Calgary-based player PRD Energy has been awarded an onshore licence in Germany to add to its existing acreage position in the country.

The newly acquired Uelzen exploration licence covers about 200,000 acres in Lower Saxony and is adjacent to the Steinhorst permit already held by the company.

PRD has a commitment to bring at least two wells into production under the initial five-year term for the Uelzen licence, with the award subject to approval by authorities.

The company, through its wholly-owned German subsidiary, has also applied for additional exploration and production licences in the country, where it currently holds a total of eight permits.

PRD is evaluating 3D seismic to firm up a location for an…

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