BNK Petroleum said its subsidiary Trofagas Hidrocarburos has won an oil and gas license covering 234,000 acres in the autonomous community of Castile and Leon. Located in the Cantabrian Basin, the license has been acquired principally for shale gas targets but also has some conventional oil and gas potential. The primary target is a Jurassic-aged shale, which based on available information ranges, in the most prospective areas, from 100 m to more than 200 m in gross thickness at depths of about 2,500 to 4,500 m.
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