Last checked at 12 Jun 2013 15:44
12 June 2013
San Leon Energy Plc
("San Leon" or the "Company")
Update on Czaslaw-1 and Siciny-2
San Leon Energy is pleased to provide the following update on the Czaslaw-1 well in the Nowa Sol Concession in the Southern Permian Basin and the Siciny-2 well in the SW Carboniferous Basin, Poland.
Czaslaw-1
Based upon the encouraging data obtained during the acid wash performed in May on Czaslaw-1, stimulation modelling has been performed by Denver-based engineers. Their recommendation, which the Company will now implement, involves undertaking one or more additional acid fracture treatments on the well. A liner will first be run and cemented to facilitate targeting of the stimulation to specific depths. This is expected to take place in late summer, following necessary permissions and equipment sourcing.
Siciny-2
Pressure fall-off data has been acquired from the first Diagnostic Fracture Injection Test ("DFIT") on Siciny-2, on what was expected to be a relatively low-permeability section. This was performed first for operational reasons, as it is the deepest interval of potential interest. The results show a permeability which is below the range which would be considered for full fracturing. A second DFIT further up in the same reservoir section will now be performed in the coming weeks, with the aim of determining a possible suitable depth for hydraulic fracturing.
Executive Chairman, Oisin Fanning commented:
"I am pleased that further operations are justified on both wells and our focus remains on proving up these respective plays. I look forward to updating the market on results in due course".
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 | |
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
Joel Price, who has reviewed this update, has 19 years' experience in the oil & gas industry and is a member of the Society of Petroleum Engineers. He holds a BA in Natural Sciences from Cambridge University, an MEng from Heriot-Watt University, and an MBA from Durham University. Joel is currently the Head of Engineering for San Leon Energy and is based in San Leon's London office.