Poland, EU Discussing Shale Gas Incentives

Poland is still in discussions with the European Union on developing a tax regime that incentivizes shale gas exploration in the eastern European country, Talisman Energy Inc. (TLM) Chief Executive John Manzoni said Monday.

"The [Polish] government and the EU are still working out how to make the process more conducive to investment. They're in that process," said Manzoni, whose firm is among those attempting to open up Poland as Europe's first major shale gas frontier.

Talisman, which last week said it would reduce its number of U.S. shale drilling rigs in response to lower gas prices there, has completed two of three vertical exploration wells in northern Poland with another planned before the end of the year.

Manzoni said initial findings were "not discouraging, just too early to tell" the degree of commerciality.

-By Alexis Flynn, Dow Jones Newswires, +44 207 8429471, alexis.flynn@dowjones.com

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