New Licencing Option (3955Q)
October 18 2011 - 9:30AM
UK Regulatory
TIDMSLE
RNS Number : 3955Q
San Leon Energy PLC
18 October 2011
18th October 2011
San Leon Energy Plc
("San Leon" or the "Company")
San Leon Energy offered new Slyne Basin Licence in Irish
Offshore Licencing Round
San Leon Energy Plc ("San Leon") is pleased to announce it has
been offered a new licencing option, Licensing Option 11/13,
("Licence" or "Option") in the 2011 Atlantic Margin Licensing
Round, offshore Ireland. The Option area covers 986 km(2) and
includes four full blocks, 27/13, 27/14, 27/19 and 27/24.
The Minister for Communications, Energy and Natural Resources
announced the offer on 17(th) October 2011, which if accepted by
San Leon, will run from 1st November 2011 to 31st October 2013.
The Licence is adjacent to the company's current FEL 4/06 Slyne
Licence, where San Leon (50% interest) and Lundin Petroleum (50%
interest) acquired 300 square kilometres of 3D seismic data in
August 2010. That new Slyne 3D data has now been interpreted and
both parties have engaged First Energy Capital to market the mapped
Inishmore Prospect to potential farminees. The new Option is also
adjacent to Licence 1/06 which is owned by Serica Energy (50%
interest) and RWE Dea (50% interest).
Oisin Fanning, Executive Chairman of San Leon Energy,
commented:
"Ireland offers an excellent fiscal regime in a proven petroleum
system. This new Option does not come with an onerous work
programme and we see it as complimentary to our existing high
impact Atlantic Margin portfolio.
Offshore Atlantic Margin Ireland is very underexplored and
recent activity suggests that that could change. We are pleased to
expand our acreage in this area with minimal exposure to
shareholders."
For further information contact:
San Leon Energy Plc Tel: + 353 1291 6292
Oisin Fanning, Executive Chairman
Macquarie Capital (Europe) Limited Tel: +44 (0) 20 3037
2000
Paul Connolly Tel: +44 (0) 20 7012
Ben Colegrave 2000
John Dwyer
Arbuthnot Securities
Antonio Bossi
Richard Johnson
College Hill Associates Tel: +44 (0) 20 7457
2020
Nick Elwes
www.sanleonenergy.com
Qualified person
John Buggenhagen, who has reviewed this update, 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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