Award of Szczawno Concession

RNS Number : 3183L

San Leon Energy PLC

05 May 2010

 



San Leon Energy Plc

("San Leon" or the "Company")

Award of Szczawno Concession in Poland

·    San Leon has been awarded a 603.40 km² Szczawno Concession (the "Concession") in the Baltic Basin onshore northern Poland and across portions of license blocks 151 and 152

·    San Leon continues to grow its access to this highly prospective area for significant gas production from the Palaeozoic shales in Poland.

San Leon is pleased to announce that it's wholly owned Polish subsidiary Oculis Investments Sp. z o.o. ("Oculis") was awarded the Concession for oil and gas reconnaissance and exploration and the mining usufruct agreement.  San Leon has 100% interest in the Concession.

The Concession, totalling 603.4 km², is located in the Baltic Basin, onshore northern Poland, across the northern half of license blocks 151 and 152.

The License is valid for up to 5 years and covers a work programme which includes geological studies, seismic acquisition and a one well drilling obligation. The license also has an optional 3D seismic survey and an additional two wells.

This award gives San Leon access to a third highly prospective area for significant gas production from the Palaeozoic shales.

The Szczawno Concession completes the third license in the farm-out agreement with Talisman Energy.

Oisín Fanning, Chairman of San Leon commented

"We are excited to continue to expand our Baltic Basin portfolio in Poland.  Szczawno is a high potential area for unconventional gas production from the Palaeozoic shales.  This area is on trend with recent licensing and is within the remit of our farm-out agreement with Talisman Energy. We are very much looking forward to the operational period of these prospects which are in the advanced planning phase."

5 May 2010

For further information contact:

San Leon Energy Plc                                          Tel: + 353 1291 6292

Oisin Fanning, Chairman

Philip Thompson, Chief Executive Officer

Arbuthnot Securities                                         Tel: [phone]

Nick Tulloch

Ben Wells

College Hill Associates                                       Tel: [phone]

Nick Elwes

Qualified person

John Buggenhagen 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 Vice President of Exploration for the San Leon Energy group and based in San Leon Energy's Warsaw office in Poland.

Notes to Editors:

Talisman Energy Inc

Talisman Energy Inc. is a global, multi billion dollar diversified, upstream oil and gas company, headquartered in Canada. Talisman's three main operating areas are North America, the North Sea and Southeast Asia. The Company also has a portfolio of international exploration opportunities. Talisman is committed to conducting business safely, in a socially and environmentally responsible manner, and is included in the Dow Jones Sustainability (North America) Index. Talisman is listed on the Toronto and New York Stock Exchanges under the symbol TLM.

 

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