Expansion of shale gas acreage
November 03 2010 - 3:00AM
UK Regulatory
TIDMSLE
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: +44 (0) 20 7012 2000 |
+---------------------------------+---------------------------------+
| Nick Tulloch | |
+---------------------------------+---------------------------------+
| Ben Wells | |
+---------------------------------+---------------------------------+
| | |
+---------------------------------+---------------------------------+
| Macquarie Capital (Europe) | Tel: +44 (0) 20 3037 2000 |
| Limited | |
+---------------------------------+---------------------------------+
| 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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