Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSLE.L Regulatory News (SLE)

  • There is currently no data for SLE

Nowa Sol Update

20 Aug 2013 07:00

RNS Number : 0424M
San Leon Energy PLC
20 August 2013
 



20 August 2013

 

San Leon Energy Plc

("San Leon" or the "Company")

 

Nowa Sol Update

 

San Leon Energy announces that it will assume operatorship of the Jany C1 well on the Nowa Sol licence in the Southern Permian Basin in Poland, approximately 15km north of the Company's Czaslaw-1 well. Legal transfer of title to the Jany C1 well is subject to execution of a legally binding agreement, certain ministerial approvals and regulatory consents.

 

The Jany C1 well was drilled this month by Zielona Góra Copper Sp. z o.o., an affiliate of Miedzi Copper Corp., as the second well in a multi-well programme to assess the potential for copper in the Upper Permian Kupferschiefer. During drilling, oil was encountered in the above-lying Main Dolomite, which was found to be 43 meters thick. Furthermore, an additional 6-meter layer of oil-bearing dolomite was encountered 10 meters below the Main Dolomite. Extensive coring, logging and testing have been undertaken in both the Main Dolomite and the underlying zone to evaluate the full oil potential. As part of the cooperation with Miedzi Copper Corp., San Leon will now evaluate this data in preparation for future reservoir stimulation and test production. In consideration of the transfer of the Jany C1 well to San Leon, San Leon will award Zielona Góra Copper Sp. z o.o. an NPI of 10% on the future production from the Jany C1 well.

 

Over the past several weeks, San Leon has worked closely with Miedzi Copper Corp. on operational issues in the overlapping exploration licences. Going forward, this co-operation will include data gathering and sharing in the area, joint seismic shoots, and geological analysis and interpretation.

 

Oisin Fanning, Chairman of San Leon, commented:

"Given that the Jany C1 well was not drilled on a structural high, strong oil shows and encouraging petrophysical analysis in the Jany C1 well underscore the regional nature of the Main Dolomite play. Our next step will be to test the well with modern stimulation techniques, in order to further prove up the resource."

 

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

Richard Hail / 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

 

Qualified person

 

Lars Hübert, who has reviewed this update, has over 17 years experience in the oil & gas industry. He holds a BS from the University of Oslo, a MS from the University of Wyoming, and a MBA from Heriot Watt University. Lars is currently the Exploration Manager for all unconventional oil and gas for San Leon Energy and is based in San Leon's Warsaw office in Poland.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCLLFFTTFIALIV
Date   Source Headline
26th Mar 20107:31 amRNSEPT Disclosure
23rd Mar 201010:42 amRNSRule 8.1 - San Leon Energy plc
23rd Mar 20108:13 amRNSEPT Disclosure
23rd Mar 20107:00 amRNSPosting of Scheme Document
22nd Mar 201011:41 amRNSRule 8.1 - San Leon Energy plc
19th Mar 201011:35 amRNSRule 8.1 - San Leon Energy plc
19th Mar 201010:12 amRNSEPT Disclosure
17th Mar 201011:56 amRNSRule 8.1 - San Leon Energy plc
16th Mar 201012:22 pmRNSEPT Disclosure
16th Mar 201011:38 amRNSRule 8.3- SAN LEON ENERGY PLC
15th Mar 20101:25 pmRNSIssue of Equity
15th Mar 201011:12 amRNSRule 8.1 - San Leon Energy plc
15th Mar 20108:53 amRNSEPT Disclosure
11th Mar 20101:46 pmRNSRule 8.1 - San Leon Energy plc (AMENDED)
11th Mar 201011:28 amRNSRule 8.1 - San Leon Energy plc
9th Mar 201011:28 amRNSRule 8.1 - San Leon Energy plc
9th Mar 20109:38 amRNSEPT Disclosure
8th Mar 201010:36 amRNSEPT Disclosure
5th Mar 20107:00 amRNSFurther re Offer
5th Mar 20107:00 amRNSStatement re 2.5 announcement
4th Mar 201010:02 amRNSEPT Disclosure
3rd Mar 201010:53 amRNSEPT Disclosure
2nd Mar 201010:47 amRNSEPT Disclosure
1st Mar 201012:10 pmRNSEPT Disclosure
1st Mar 20107:00 amRNSJV with Talisman Energy
26th Feb 201011:54 amRNSEPT Disclosure - Correction
26th Feb 201011:41 amRNSEPT Disclosure
25th Feb 20105:17 pmRNSRule 8.1- San Leon Energy Plc
25th Feb 20107:00 amRNSRecommended Acquisition of Island Oil & Gas plc
25th Feb 20107:00 amRNS2.5 Announcement
24th Feb 201012:17 pmRNSRule 8.1 - San Leon Energy Plc
23rd Feb 20108:49 amRNSEPT Disclosure
22nd Feb 201010:25 amRNSEPT Disclosure
19th Feb 20109:31 amRNSEPT Disclosure
15th Feb 201010:02 amRNSEPT Disclosure
12th Feb 201010:02 amRNSRule 8.1 - San Leon Energy Plc
12th Feb 20109:57 amRNSEPT Disclosure
11th Feb 20109:12 amRNSEPT Disclosure
11th Feb 20107:00 amRNSUpdate on Island and Loan
2nd Feb 20107:00 amRNSAppointment of Non Executive Director
29th Jan 20104:00 pmRNSWorking Capital Update
29th Jan 20104:00 pmRNSUpdate on Island & Loan
27th Jan 201011:37 amRNSEPT Disclosure
25th Jan 20107:00 amRNSOffer Update
22nd Jan 201011:40 amRNSEPT Disclosure
18th Jan 201011:23 amRNSEPT Disclosure
12th Jan 201011:38 amRNSEPT Disclosure
11th Jan 20102:44 pmRNSRule 8.3- SAN LEON
8th Jan 20102:24 pmRNSRule 8.3- San Leon Energy PLC
8th Jan 20109:43 amRNSRule 8.1- San Leon Energy Plc

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.