Expansion of the Rawicz Concession Including Potential Proven Rawicz Gas Field
San Leon Energy is pleased to announce that is has successfully expanded its existing Rawicz Concession in the Permian/SW Carboniferous Basin of Poland. As part of the modification of the Rawicz Concession the Polish Ministry of Environment has approved merging the Rawicz and Winsko Concessions and expanding the total concession area. The amended Concession includes the previously discovered, unproduced Rawicz gas field in the Permian Main Dolomite and Rotliegendes formations. The Company estimates that Rawicz gas field to contains up to 17 BCF of recoverable, high quality methane gas in the Permian Rotliegendes formation with potential upside for oil and gas production the Zechstein Main Dolomite. The updated Rawicz Concession further expands San Leon unconventional Carboniferous acreage. The new merged concession area is 742 km2 (183,352 acres).
The Company plans to acquire an estimated 120 km2 3D seismic survey over the Rawicz gas field with San Leon subsidiary NovaSeis in Q4 2012 followed by the first appraisal well of the field in Q2/Q3 of 2013. The Company plans to obtain first production from the field in Q3 2013.
San Leon holds 100% of the expanded Rawicz concession.
Oisin Fanning, Chairman of San Leon, commented:
"As we continue to expand our Permian/SW Carboniferous acreage in Poland we see the addition of the Rawicz gas field as key to our strategy to focus on near-term production to generate cash flow while we continue to understand the significant upside present in the deeper Carboniferous."
John Buggenhagen, who has reviewed this update, has over 15 years experience in the oil & gas industry. He has a Ph.D. and M.Sc. in Geophysics from the University of Wyoming and a B.Sc. in Geophysics from the University of Arizona. He is currently the Director of Exploration for the San Leon Energy Group and based in San Leon's Warsaw office in Poland.
This information is provided by RNS
The company news service from the London Stock Exchange
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.