Oisin Fanning, San Leon Energy Executive Chairman, commented:
"We are quickly moving forward with the development of the Rawicz gas field, and the confirmation of reserves from the CPR is a very positive step. San Leon and PNR are focused on first production and expanding our development using modern drilling and completion technology to unlock the significant remaining reserves in this under-explored basin, where some of the best gas prices in Europe can be found."
John Buggenhagen Palomar Natural Resources CEO commented:
"This is an exciting time for Palomar and San Leon, and for Poland - the Rawicz field development is the beginning of a larger exploration and production business for conventional gas in Poland. We have already mapped several other large, undrilled structures on our 3D seismic database at Rawicz and across our broader acreage position, that bring significant upside potential to the area and justify a larger, fast-paced development plan. Based upon our current prospect portfolio and the current fiscal regime in Poland, we see the potential for a highly profitable, sustainable E&P business in Poland for the long term. Rawicz is the first step in realizing this potential."
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