Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSLE.L Regulatory News (SLE)

  • There is currently no data for SLE

Drilling Update-Rogity-1

10 Feb 2012 07:00

RNS Number : 1855X
San Leon Energy PLC
10 February 2012
Β 

ο»Ώ

10 February 2012

Β 

San Leon Energy Plc

("San Leon" or the "Company")

Β Testing the Eastern Baltic Basin - Rogity-1 Well Drilled

San Leon, the fast growing oil and gas company with an extensive portfolio of assets across Europe and North Africa,is pleased to announce the successful completion of its second shale gas exploration well in Poland's Baltic Basin. The Talisman Energy operated Rogity-1 well, on the Braniewo S Concession in Poland, has been drilled to a depth of 2,788 meters. During drilling continuous gas shows were encountered over more than 500 meters of the Lower Silurian, Ordovician, and Middle Cambrian sections. The rich gas shows consisted of heavy hydrocarbons, including C1-nC8. The richness of the gas shows is consistent with a wet gas system, confirming the Company's regional model of the eastern side of the basin being in the oil window. The strongest gas shows, along with indications of oil, were encountered in the Lower Silurian interval, which is estimated to be over 100 meters thick. Oil shows were also encountered in Ordovician limestones and shales, and in Middle Cambrian sandstone.

334 meters of continuous core were taken in the well to evaluate the reservoir properties and mechanical properties of the Lower Silurian, Ordovician, and Middle Cambrian sections. In addition an extensive open hole logging program was also performed to further evaluate the potential of the well. Evaluation and interpretation of the core and logs is expected to take 3-4 months in preparation for continued operations later in 2012. The well was completed and cased for future operations, which could include pressure testing of the formations (DFIT test) and a possible vertical frac across several intervals. Future operations in the Braniewo S Concession are expected to include a long offset horizontal well as well as a multistage frac.

Talisman will next move the rig to the Szczawno concession to drill the Szymkowo-1 well.

Β OisinΒ Fanning, Chairman of San Leon commented:

"We are excited by the successful drilling and significant data gathering at the Rogity-1 well. Our initial results show the regional variability of the basin and have confirmed our model of a more liquids rich system on the eastern edge of the basin. This is yet another milestone for San Leon and our successful partnership with Talisman Energy. Our continued systematic approach towards evaluating our geographically and geologically diverse unconventional gas acreage in Poland is paying off."

Β 

For further information contact:

Β 

San Leon Energy Plc

Tel: + 353 1291 6292

Oisin Fanning, Executive Chairman

Dr John Buggenhagen, Exploration Director

Β 

Macquarie Capital (Europe) Limited

Tel: +44 (0) 20 3037 2000

Paul Connolly

John Dwyer

Β 

WesthouseSecurities

Antonio Bossi

Richard Johnson

Β 

Β 

Β 

Β 

Tel: +44 (0) 20 7601 6100

College Hill Associates

Tel: +44 (0) 20 7457 2020

Nick Elwes

www.sanleonenergy.com

Β 

Qualified person

Β 

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.

Β 

Β 

Notes to editors:

San Leon is an independent fast growing oil and gas exploration company and is Europe's leading shale gas company by acreage. The Company has an extensive portfolio of assets in Europe and North Africa that will enable it to provide energy solutions for the future.

Β 

San Leon's assets are located in Poland, Morocco, Albania, Ireland, Spain and Italy. The Company's portfolio across these geographies is made up of both shale (Poland Baltic Basin, Morocco and Spain) and conventional exploration assets.

Β 

San Leon's key objective is to grow the Company significantly and to become a leading European oil and gas player delivering value to all its stakeholders. To achieve this San Leon, since it was founded in 1995, has built a balanced portfolio as well as an exceptional technical team.

Β 

The Company is listed on London's Alternative Investment Market (ticker symbol: SLE). As at 30 June 2011 the Company had €42.2 million of cash and cash equivalents.

Β 

Β 

This information is provided by RNS
The company news service from the London Stock Exchange
Β 
END
Β 
Β 
DRLSFUSMSFESEDE
Date   Source Headline
13th Jul 20223:44 pmRNSPosting of documents
11th Jul 20227:30 amRNSRestoration - San Leon Energy plc
8th Jul 20224:43 pmRNSPublication of Admission Document & Restoration
8th Jul 20228:01 amRNSFinal results
8th Jul 20228:00 amRNSProposed Transactions
1st Jul 20227:00 amRNSUpdate on investment in the Oza field, Nigeria
24th Jun 20227:00 amRNSFurther update on the Potential Transaction
26th May 20224:38 pmRNSUpdate on development of the Oza field, Nigeria
10th May 20227:00 amRNSUpdate on development of the Oza field, Nigeria
3rd May 20224:28 pmRNSExtension & update to investment in the Oza field
29th Apr 20227:00 amRNSFurther update on the potential transaction
24th Mar 20221:21 pmRNSUpdate on development of the Oza field, Nigeria
28th Feb 20227:00 amRNSUpdate on potential transaction
15th Feb 20227:00 amRNSFurther loan and acquisition of interest in ELI
1st Feb 20227:00 amRNSFurther extension of Conditional Payment Waiver
31st Jan 20227:01 amRNSChange of adviser
31st Jan 20227:00 amRNSSuccessful conclusion of the TAQA litigation
27th Jan 20223:58 pmRNSAmendment to investment in the Oza field, Nigeria
4th Jan 20227:00 amRNSFurther extension of Conditional Payment Waiver
24th Dec 20217:00 amRNSUpdate on potential transaction
1st Dec 20217:01 amRNSFurther extension of Conditional Payment Waiver
1st Dec 20217:00 amRNSAppointment of CFO
29th Nov 20217:00 amRNSUpdate on potential transaction
2nd Nov 20213:28 pmRNSFurther Extension of Payment Waiver & CFO update
2nd Nov 20211:52 pmRNSUpdate on investment in Oza Field, Nigeria
21st Oct 20213:24 pmRNSUpdate on investment in Oza Field, Nigeria
1st Oct 20214:30 pmRNSFurther extension of Conditional Payment Waiver
1st Oct 20217:00 amRNSUpdate on investment in Oza Field, Nigeria
30th Sep 202112:28 pmRNSResult of AGM
30th Sep 20217:00 amRNSUnaudited Interim Results
20th Sep 20217:00 amRNSExtension of Conditional Payment Waiver
3rd Sep 20217:00 amRNSNotice of Annual General Meeting
1st Sep 20212:11 pmRNSUpdate on investment in Oza Field, Nigeria
12th Aug 20217:00 amRNSUpdate on investment in Oza Field, Nigeria
9th Aug 20217:00 amRNSUpdate re: ELI Loan Repayment
3rd Aug 20217:00 amRNSDirectorate Change
15th Jul 20211:26 pmRNSUpdate on investment in Oza Field, Nigeria
12th Jul 20217:00 amRNSUpdate on proposed transaction
7th Jul 20217:00 amRNSConditional Payment Waiver for MLPL Loan Notes
29th Jun 20217:00 amRNSFinal Results
24th Jun 202110:12 amRNSProposed transactions & AIM suspension
24th Jun 20219:45 amRNSSuspension - San Leon Energy plc
24th Jun 20217:00 amRNSConditional acquisition of further interest in ELI
17th Jun 20212:09 pmRNSUpdate on investment in Oza Field, Nigeria
28th May 20217:00 amRNSUpdate on investment in Oza Field, Nigeria
7th May 20217:00 amRNSBoard changes
14th Apr 20217:00 amRNSHolding in Company
9th Apr 20217:00 amRNSUpdate on investment in Oza Field, Nigeria
24th Mar 20212:10 pmRNSDirector Option Grants
16th Mar 20217:00 amRNSOperational update

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.