San Leon has believed that its liquid:gas ratio was at a desirable level, providing liquid sales potential whilst minimising any adverse effects on gas production. San Leon continues to believe in the potential of its Gdansk W concession.
San Leon Energy plc ("San Leon Energy" or "the Company")
San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, notes today's Operations and Corporate Update from 3Legs Resources Plc ("3Legs"). While it is disappointing that commerciality has still to be proven in a Polish horizontal shale well, the Company notes that the hydrocarbon liquid:gas ratio in the Lublewo LEP-1ST1H well appears to be in excess of 10 times that in the Lewino-1G2 well. Since finishing testing Lewino-1G2 in January 2014, San Leon has believed that its liquid:gas ratio was at a desirable level, providing liquid sales potential whilst minimising any adverse effects on gas production. San Leon continues to believe in the potential of its Gdansk W concession.
Qualified person Joel Price, who has reviewed this update, has 20 years' experience in the oil & gas industry and is a member of the Society of Petroleum Engineers. He holds a BA in Natural Sciences from Cambridge University, an MEng from Heriot-Watt University, and an MBA from Durham University. Joel is Chief Operating Officer for San Leon Energy and is based in San Leon's London office.
For further information contact:
San Leon Energy plc Oisin Fanning, Executive Chairman
Will be interesting to hear their view on all this. Remember very well in January when their ceo was stating that a commercial flow rate would be very likely to happen in the weeks/months ahead. Maybe he knows what he talking about after all and was pointing at Lewino...hope for us and him he was right as he just bought brand new fracking kit and set up sole operation in poland.
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