Last checked at 16 Sep 2013 08:00
16 September 2013
San Leon Energy Plc
("San Leon" or "the Company")
Rogity-1 Preliminary results of hydraulic fracture treatment
San Leon is pleased to announce preliminary results for the hydraulic fracture treatment ("frac") performed on the Rogity-1 well on the Braniewo S Concession (the "Concession") in Poland's northern Baltic Basin. This was the first frac of a three-stage programme at Rogity-1 as part of the recently signed farm-out agreement ("FOA") with Wisent Oil & Gas plc ("Wisent"), under which Wisent will fully design, perform, and fund the costs of the programme as well as any subsequent testing in the well.
As set out in the Company's announcement on 5th August 2013, the objective of this first fracture was to understand the frackability and production potential of the tight Cambrian sandstones. It is anticipated that any future development would be with multi-staged fracced long offset horizontals. San Leon has mapped a large Cambrian structure at the Rogity-1 well, which the Company is analysing as a sweet spot for oil production via fractures.
The frac was performed according to plan. Following a period of frac fluid clean up, oil accumulated and has been sampled at surface. This is seen as a highly encouraging result, and further clean up and testing of the Cambrian will be performed following fraccing of the upper two zones, scheduled for late September 2013.
Oisin Fanning, San Leon Executive Chairman, commented:
"We are delighted to prove the presence of mobile oil in the Cambrian tight sand of Rogity-1. We look forward both to the further clean-up and testing of this secondary target, as well as to the fraccing of the overlying primary shale oil targets."
Qualified person
Joel Price, who has reviewed this update, has 19 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 currently the Head of Engineering for San Leon Energy and is based in San Leon's London office.
For further information contact:
San Leon Energy Plc
Tel: +353 1291 6292
Oisin Fanning, Executive Chairman
Macquarie Capital (Europe) Limited
Tel: +44 (0) 20 3037 2000
John Dwyer
Fox Davies Capital
Tel: +44 (0) 20 3463 5000
Daniel Fox-Davies
Susan Walker
FirstEnergy Capital LLP
Tel: +44 (0) 20 7448 0200
Hugh R. Sanderson
David van Erp
Westhouse Securities (Nominated Advisor)
Tel: +44 (0) 20 7601 6100
Richard Johnson Antonio Bossi
College Hill Associates
Tel: +44 (0) 20 7457 2020
David Simonson Alexandra Roper
Plunkett Public Relations
Tel: +353 (0) 1 284 4414 / +353 (0) 87 826 0833
Sharon Plunkett
Jennie Cotter
www.sanleonenergy.com