PRD nets more German acreage

PRD Energy

Eoin O'Cinneide

 05 March 2013 14:10 GMT

Canadian junior PRD Energy is set to drill at least one well in Germany as the Toronto-listed player landed a licence award in Bavaria.

The Calgary-headquartered company is also keeping its fingers crossed for further awards in the European economic powerhouse as it awaits decisions on further applications.

PRD has won a five-year licence to explore and produce on the Sudbayern-Nord block in the Molasse basin.

The Canadian, which also maintains a Berlin office, said the area has a history of significant petroleum discoveries.

PRD will have to drill at least one well in the initial five-year period and bring it into production.

“PRD has also applied for several other exploration and production licenses in Germany… and anticipates responses to these applications in the coming months,”…

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