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Galizien To Develop EuroGas CBM Properties In Ukraine

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Nancy Agin
May 10, 2010

EuroGas Inc., New York, (Pink Sheets: EUGS; XETRA: EUG) has entered into a partnership with closely-held, Toronto-based Galizien Energy Corp. to develop certain coal-bed-methane properties in Ukraine.

Held by EuroGas and its Ukrainian partners, the gas properties comprise coal-bed-methane permits and an interest in as many as 2,000 plugged and shut-in gas wells in eastern Ukraine.

Galizien is expected to spend approximately US$5 million in the first exploration phase involving the drilling of 10 new coal-bed-methane wells; reservoir and core evaluation; and well completions on the eastern Ukrainian properties held ...

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