By ALEXIS FLYNN

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 CEO John Manzoni said Monday.

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

“They're in that process.”

Talisman, which last week said it would reduce its number of US 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.


Dow Jones Newswires