Sign In
14 Jun 2012 07:00
14 June 2012
San Leon Energy Plc
("San Leon" or the "Company")
Expansion of the Rawicz Concession Including Potential Proven Rawicz Gas Field
San Leon Energy is pleased to announce that is has successfully expanded its existing Rawicz Concession in the Permian/SW Carboniferous Basin of Poland. As part of the modification of the Rawicz Concession the Polish Ministry of Environment has approved merging the Rawicz and Winsko Concessions and expanding the total concession area. The amended Concession includes the previously discovered, unproduced Rawicz gas field in the Permian Main Dolomite and Rotliegendes formations. The Company estimates that Rawicz gas field to contains up to 17 BCF of recoverable, high quality methane gas in the Permian Rotliegendes formation with potential upside for oil and gas production the Zechstein Main Dolomite. The updated Rawicz Concession further expands San Leon unconventional Carboniferous acreage. The new merged concession area is 742 km2 (183,352 acres).
The Company plans to acquire an estimated 120 km2 3D seismic survey over the Rawicz gas field with San Leon subsidiary NovaSeis in Q4 2012 followed by the first appraisal well of the field in Q2/Q3 of 2013. The Company plans to obtain first production from the field in Q3 2013.
San Leon holds 100% of the expanded Rawicz concession.
Oisin Fanning, Chairman of San Leon, commented:
"As we continue to expand our Permian/SW Carboniferous acreage in Poland we see the addition of the Rawicz gas field as key to our strategy to focus on near-term production to generate cash flow while we continue to understand the significant upside present in the deeper Carboniferous."
For further information contact:
San Leon Energy Plc | Tel: + 353 1291 6292
|
Oisin Fanning, Executive Chairman | |
John Buggenhagen, Exploration Director | |
Macquarie Capital (Europe) Limited | Tel: +44 (0) 20 3037 2000 |
Paul Connolly | |
John Dwyer | |
Westhouse Securities Richard Johnson | Tel: +44 (0) 20 7601 6100
|
Antonio Bossi | |
College Hill Associates | Tel: +44 (0) 20 7457 2020 |
Nick Elwes |
www.sanleonenergy.com
Qualified person
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.
Follow the stocks
