In the coming months, Europe’s energy crisis may take a dramatic turn.
As Europe realizes the full risk of relying on foreign oil and gas, it could soon find relief coming from an unexpected source.
That’s because, after years of leaning on cheap Russian gas, geopolitical shifts have changed the equation.
Both the war in Ukraine and simple economics have forced the EU to pivot from strict green energy policies.
The Wall Street Journal reports, “Europe cuts addiction to Russian oil.”
And The Washington Post announced recently, “Amid energy crisis, EU says gas can sometimes be ‘green.'”
The message is clear: Europe is scrambling to diversify its energy sources and achieve true energy independence.
That’s unlocked a golden opportunity with Europe’s greatest asset: its vast, untapped natural gas reserves.
For decades, prime targets for natural gas have gone completely overlooked.
That’s why one Canadian energy company, MCF Energy (TSXV:MCF; OTC:MCFNF), is on a mission to help secure Europe’s energy independence and explore these long-ignored assets.
And with the acquisition of a proven target in Germany, the landscape could shift dramatically in the coming months.
MCF Energy Targets Overlooked Natural Gas Reserves in Germany
MCF Energy announced several major new acquisitions in Germany. The company has secured rights to four key assets to date.
The company is specifically targeting its concession at Lech, which spans about 10 square kilometers in Bavaria.
That’s because the property holds 3 wells already drilled decades ago, with two confirming discoveries of natural gas.
In the early 1980s, Mobil Oil began drilling in search of oil at the property and discovered a primary gas reservoir.
At the time, testing showed a maximum flow rate of 24 million cubic feet per day (MMCFD) of natural gas with associated condensate.
Thanks to low natural gas prices at the time, however, those assets have been left virtually untouched for over 40 years.
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As CEO James Hill stated, “I think from a risk perspective, you’re not going to miss this one. I think there’s…
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