Minijos Nafta, UAB Presents at Terrapinn Holdings, Ltd.'s Shale Gas World Europe 2012, Nov-29-2012 12:45 PM. Venue: Hilton Warsaw Hotel and Convention Centre, Grzybowska 63, Warsaw 00-844, Poland. Speakers: Thomas Haselton, Chief Executive Officer.

Grupa Lotos Spolka Akcyjna said that it is seeking an experienced and wealthy partner for drilling shale gas in the western part of Lithuania that has been started by Minijos Nafta, UAB, Verslo Zinios reported citing Nettg.pl. Nettg.pl quoted Pawel Olechnowicz, Chairman of Lotos, as saying that exploration and production of shale gas required knowledge, experience and a lot of money. "We have neither of the three. Therefore, the group is looking for a business partner for investments in shale gas projects. The talks held so far have been promising," Olechnowicz said. However, Olechnowicz refused to provide any more details, saying that all information will be provided after the talks were completed. "We are in talks with companies holding onshore project concessions in the Polish market. But we are only interested in partnership. Taking over a concession is not an option. That would be too costly and very risky," Olechnowicz said.