Expansion of shale gas acreag

RNS Number : 5071V

San Leon Energy PLC

03 November 2010

 



SAN LEON ENERGY

("San Leon" or the "Company")

Expansion of shale gas acreage in Poland

•              San Leon has been awarded an expansion to the Gdansk W Concession (the "Concession") by 114.6 km2 to 894.41 km2 in the Baltic Basin onshore northern Poland.

•          San Leon continues to grow its position in the Baltic Basin focusing on proving the potential of the highly prospective Paleozoic shales for significant natural gas production.

San Leon is pleased to announce that its wholly owned Polish subsidiary Oculis Energy Sp. z o.o. ("Oculis") has expanded the Concession for oil and gas reconnaissance and exploration and the mining usufruct agreement following an application process with the Polish Government.  San Leon currently has 100% interest in the Concession.

The Concession, totalling 894.41 km2, is located in the Baltic Basin, onshore northern Poland, across license blocks 48 and 49.

The Concession is valid for up to 5 years and covers a work programme which includes geological studies, 280 km 2D seismic acquisition and a one well drilling obligation. The Concession also has an optional 3D seismic survey and an additional two wells.

The expansion of the Gdansk W Concession increases the total area of the farm-out agreement with Talisman Energy.

Oisín Fanning, Chairman of San Leon commented

"This latest award in this very sought-after shale gas area confirms our drive to early production in Poland and is a welcome affirmation by the Polish authorities.  The Concession is on trend with recent drilling by Lane Energy and its partner ConocoPhillips and is also within the scope of our farm-out agreement with Talisman Energy. We are very much looking forward to the operational period, which is already in the advanced planning phase."

3 November 2010

For further information contact:

San Leon Energy Plc	Tel: + 353 1291 6292
Oisin Fanning, Chairman
John Buggenhagen, Director of Exploration
Arbuthnot Securities	Tel: [phone]
Nick Tulloch
Ben Wells
Macquarie Capital (Europe) Limited	Tel: +44 (0)  20 3037 2000
Paul Connolly
Ben Colegrave
Fox Davies Capital	Tel: +44 (0)  207 936 5230
Phil Davies
David Porter
College Hill	Tel: +44 (0)  207 457 2020
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 Director of Exploration for the San Leon Energy Group and based in San Leon's Warsaw office in Poland.

Notes to Editors:

Talisman Energy Inc. is a global, multibillion 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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