Spudding of Rawicz-12 Well

RNS Number : 7721X
San Leon Energy PLC
24 November 2014
 



24 November 2014

 

San Leon Energy Plc

("San Leon" or the "Company")

 

 

Rawicz-12 Well Spuds

  

San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces the spud of the Rawicz-12 appraisal well yesterday on the 742 km2 Rawicz Concession in Poland's southern Permian Basin.

 

The well, which is operated by Palomar Natural Resources ("PNR"), is targeting the previously-discovered Rawicz gas accumulation in the Permian Rotliegendes sandstones. The well is estimated to take 45 days to reach a total depth of 1,900 meters and is being drilled by Poland's Exalo Drilling. A full testing program is planned immediately after drilling and completion of the well, assuming positive results.

 

PNR holds 65% and is operator of the concession, with San Leon holding the remaining 35%.

 

Oisin Fanning, Chairman of San Leon, commented:

 

"This is a great opportunity for San Leon to establish first gas production in Poland. We are pleased to be working with PNR and are confident in their operational ability. Rawicz is a project that San Leon has worked hard to bring forward over the last three years, and we look forward to updating the market with results in due course."

 

 

Qualified person
Joel Price, who has reviewed this update, has 20 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 Chief Operating Officer for San Leon Energy and is based in San Leon's London office.

 

For further information contact:

 

San Leon Energy plc 

Oisin Fanning, Executive Chairman

 

+353 1291 6292

finnCap Ltd 

Corporate Finance
Matt Goode

Christopher Raggett
Corporate Broking
Joanna Weaving

 

+44 (0) 20 7220 0500

Fox-Davies Capital Limited

Daniel Fox-Davies
Oliver Stansfield
Jonathan Evans 

 

+44 (0) 20 3463 5000

Macquarie Capital (Europe) Limited
Jon Fitzpatrick
Nicholas Harland

 

+44 (0) 20 3037 2000

Westhouse Securities Ltd
Nominated Adviser
Richard Johnson
Antonio Bossi

 

+44 (0) 20 7601 6100

Vigo Communications
Financial Public Relations
Chris McMahon

Peter Reilly

 

+44 (0) 20 7016 9572

Plunkett Public Relations
Sharon Plunkett

+353 (0) 1 280 7873

 

www.sanleonenergy.com 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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