Bulgaria

Project Sections

Decision of Bulgarian Ministry of Environment and Water Advising Park Place Energy to Commence the Ecological Evaluation for the Vranino Coal Bed Methane Project

Overview of the Vranino Gas Project

Natural Gas from Coal

Bulgaria Country Facts

Fiscal and License Regime

Vranino Gas Project (Dobrudja Basin, Bulgaria)

The Vranino project is situated in close proximity to a major gas pipeline in northeast Bulgaria. Between the 1960’s and the 1980’s over 220 wells were drilled within the area that is now covered by the Vranino 1-11 Block. These wells were drilled to evaluate coal mining of the deep coal beds and this work provided massive amounts of geological data (logs, gas isotherms, location tops, temperature, DST and some core data).

The previous drilling centers on massive gas-charged coal deposits where over 60 individual coal seams (with varying thickness and gas content) at depths between 1200 meters and 2500 meters.

The most recent well drilled, Vranino-1, confirmed numerous gas bearing zones of interest.

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The Environment Assessment Evaluation is being conducted now.

The Company intends to explore and develop the gas in a safe manner, consistent with best practices for environmental cleanliness and international standards. Perk Place will use modern techniques for gas extraction that will not involve hydraulic fracking, which was banned in Bulgaria in 2012, or underground coal gasification. If successful, the project will be a source of natural gas for the local community and will reduce the need for Bulgaria to purchase expensive imported natural gas.

Vranino2

The project concept will be tested by Park Place by drilling new exploration wells, but also to determine whether some of the old wells can be successfully re-entered and deepened. The first well will be a vertical well to core the coal beds for gas content analysis and to DST the coal beds to ascertain the potential quantity of gas production.

In the USA, more than 50,000 wells have been drilled into coal seams in over a dozen basins. In Canada, over 10,000 wells have been drilled into coal seams. In the EU, there are currently underway projects targeting coal seams in the UK and pending in France.