Europe-focused exploration and production company Aurelian Oil & Gas has raised its stake in two Polish concessions in the west of the country.

The group had acquired an additional 10% equity interest in the Cybinka and Torzym sites on Polish Reef Oil Play for €337,724 and €368,177, respectively, taking its total interest in each to 45%.

"We are pleased to have acquired an additional 10% interest in these concessions which contain a number of prospects which are play analogues with the nearby Lubitow and BMB oil fields," said chief executive Rowen Bainbridge.

The partner group expects to spud the first well on Torzym in the first quarter of next year, targeting 35m barrels mid-case stock tank oil initially in place (STOIIP).

"We are looking forward to Q1 2012 and the spud of our first well on Torzym, which if successful, will de-risk the 100m barrels mid case STOIIP inventory currently mapped within the 220km2 Cybinka-Torzym 3D seismic survey," Bainbridge said.

BC

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