Loon holds several oil concessions in locations including Brunei, Syria, Columbia and Peru and is preparing to begin drilling in several of these locations. Its estimated extraction potential ranges from millions to billions of barrels of oil.
"These are preliminary estimates. They can be adjusted both upwards and downwards," KIH president Dariusz Mioduski told the Puls Biznesu daily. "The most promising deposits are located in Brunei, and we have license tenders with 10 companies," he added.
The concession owned by Loon Energy in Brunei covers around half of the sultanate, while large deposits of gas were discovered just 800 meters from the border of one of its areas late last year.
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