Update on Czaslaw-1 and Siciny-2

RNS Number : 9115G

San Leon Energy PLC

12 June 2013

 



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: [phone]
Oisin Fanning, Executive Chairman
Macquarie Capital (Europe) Limited	Tel: [phone]
John Dwyer
Fox Davies Capital	Tel: [phone]
Daniel Fox-Davies
Richard Hail
FirstEnergy Capital LLP	Tel: [phone]
Hugh R. Sanderson
David van Erp
Westhouse Securities (Nominated Advisor)	Tel: [phone]
Richard Johnson
Antonio Bossi
College Hill Associates	Tel: [phone]
David Simonson
Alexandra Roper
Plunkett Public Relations	Tel: [phone]
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.

 

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