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21 Aug 2013 07:00
21 August 2013
San Leon Energy Plc
("San Leon" or the "Company")
Siciny-2 Update
San Leon Energy has completed two additional Diagnostic Fracture Injection Test's ("DFIT") in the Carboniferous tight gas sand in Siciny-2. The DFIT's were pumped in the upper section of the tight gas sand, and were designed to assess formation pressure, fracture gradient and permeability of the sand and therefore the viability of future hydraulic fracturing and test production.
The first DFIT was pumped in May in the deepest part of the tight gas sand. This test indicated a very tight formation. In early August, a second DFIT was pumped in the shallowest part of the tight gas sand. This test was very small in volume, and pressure bled off very quickly, indicating a fractured reservoir. A third DFIT was then performed, pumped with a larger volume in the same perforations as the second DFIT. The results of the third DFIT appear to confirm the fractured nature of the reservoir, and indicate effective permeability of 25 microDarcies, frackable rock, and a slight overpressure. These results are in line with other tight gas sand resources around the world.
San Leon Energy will evaluate the results in cooperation with Halliburton and APEX in Denver, and commence designing a hydraulic fracturing treatment for the well.
Oisin Fanning, Chairman of San Leon, commented:
"We are delighted with the results of this DFIT, indicating an effective formation permeability in excess of 1000 times that of the first DFIT. The reservoir properties of the Carboniferous tight gas sand appear to be in line with highly attractive tight gas sand plays in the US."
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 | Or: +44 (0) 7891 079 961 |
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.
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