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
30th Dec 20167:15 amRNSForm 8.3 - San Leon Energy PLC
30th Dec 20167:00 amRNSOperations Update and Loan Note Repayments
29th Dec 20163:20 pmRNSToscafund Asset Manangement LLP Form 8.3
21st Dec 20164:40 pmRNSResponse to Press Speculation
19th Dec 20167:00 amRNSAnnouncement Regarding Takeover Speculation
9th Dec 20164:40 pmRNSSecond Price Monitoring Extn
9th Dec 20164:35 pmRNSPrice Monitoring Extension
24th Nov 20164:34 pmRNSDirector's Dealing and Shareholding
22nd Nov 20164:35 pmRNSPrice Monitoring Extension
18th Nov 20168:25 amRNSSale of Polish Assets
8th Nov 20167:00 amRNSSettlement with Avobone
11th Oct 20165:54 pmRNSPolish Court Decision
6th Oct 201612:37 pmRNSHolding(s) in Company
30th Sep 20167:00 amRNSInterim Results and Nigerian Operational Update
20th Sep 201612:15 pmRNSResult of General Meetings
19th Sep 20165:27 pmRNSStatement re: litigation
1st Sep 20161:45 pmRNSSch 1 - San Leon Energy Plc
26th Aug 201612:37 pmRNSNotice of AGM
26th Aug 20167:30 amRNSRestoration - San Leon Energy Plc
26th Aug 20167:00 amRNSProposed OML 18 Production Arrangement and Placing
22nd Aug 20165:00 pmRNSProject Status Update
11th Aug 20167:00 amRNSResponse to Press Speculation
21st Jul 20166:29 pmRNSHolding(s) in Company
1st Jul 20167:00 amRNSNigerian Onshore Production Deal Update
29th Jun 20165:34 pmRNSFinal Results
24th May 20167:00 amRNSNigerian Onshore Production Deal Update
16th May 20167:00 amRNSStrategy Update
6th May 20166:25 pmRNSAppointment of nominated adviser
21st Apr 201611:27 amRNSArbitration Update
7th Apr 20164:53 pmRNSNOMAD Termination
7th Apr 201611:15 amRNSRawicz-15 Well Test Complete
4th Apr 20167:00 amRNSMart Arrangement Agreement Completed
22nd Mar 20163:21 pmRNSNigerian Onshore Production Deal - Payment Made
9th Mar 20163:45 pmRNSFurther Extension for Mart Arrangement Agreement
4th Mar 20167:00 amRNSMart Shareholder Vote
2nd Mar 20162:20 pmRNSFunding Secured For Mart Arrangement Agreement
29th Feb 20164:39 pmRNSSpanish Licence Applications Relinquished
25th Feb 20162:02 pmRNSFurther Extension of Timing on Production Deal
19th Feb 20164:04 pmRNSArbitration Update
18th Feb 20162:00 pmRNSExtension of Timing on Onshore Production Deal
16th Feb 20167:00 amRNSArbitration Update
22nd Jan 20163:42 pmRNSSan Leon's ADRs to move from OTCQX to OTC Pink
22nd Jan 20163:00 pmRNSProduction Deal and Temporary Suspension of Shares
22nd Jan 20163:00 pmRNSSuspension - San Leon Energy Plc
21st Jan 20167:00 amRNSTERMINATION OF POSSIBLE OFFER DISCUSSIONS
19th Jan 201611:56 amRNSStockdale Securities Form 38.5(a) -San Leon Energy
14th Jan 201611:46 amRNSStockdale Securities Form 38.5(a) -San Leon Energy
8th Jan 201610:39 amRNSStockdale Securities Form 38.5(a) -San Leon Energy
6th Jan 201610:03 amRNSStockdale Securities Form 38.5(a) -San Leon Energy
6th Jan 20167:00 amRNSRawicz-15 Drilling Well Completed

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.