Drilling Update-Rogity-1 (1855X)
February 10 2012 - 2:00AM
UK Regulatory
TIDMSLE
RNS Number : 1855X
San Leon Energy PLC
10 February 2012
10 February 2012
San Leon Energy Plc
("San Leon" or the "Company")
Testing the Eastern Baltic Basin - Rogity-1 Well Drilled
San Leon, the fast growing oil and gas company with an extensive
portfolio of assets across Europe and North Africa,is pleased to
announce the successful completion of its second shale gas
exploration well in Poland's Baltic Basin. The Talisman Energy
operated Rogity-1 well, on the Braniewo S Concession in Poland, has
been drilled to a depth of 2,788 meters. During drilling continuous
gas shows were encountered over more than 500 meters of the Lower
Silurian, Ordovician, and Middle Cambrian sections. The rich gas
shows consisted of heavy hydrocarbons, including C1-nC8. The
richness of the gas shows is consistent with a wet gas system,
confirming the Company's regional model of the eastern side of the
basin being in the oil window. The strongest gas shows, along with
indications of oil, were encountered in the Lower Silurian
interval, which is estimated to be over 100 meters thick. Oil shows
were also encountered in Ordovician limestones and shales, and in
Middle Cambrian sandstone.
334 meters of continuous core were taken in the well to evaluate
the reservoir properties and mechanical properties of the Lower
Silurian, Ordovician, and Middle Cambrian sections. In addition an
extensive open hole logging program was also performed to further
evaluate the potential of the well. Evaluation and interpretation
of the core and logs is expected to take 3-4 months in preparation
for continued operations later in 2012. The well was completed and
cased for future operations, which could include pressure testing
of the formations (DFIT test) and a possible vertical frac across
several intervals. Future operations in the Braniewo S Concession
are expected to include a long offset horizontal well as well as a
multistage frac.
Talisman will next move the rig to the Szczawno concession to
drill the Szymkowo-1 well.
Oisin Fanning, Chairman of San Leon commented:
"We are excited by the successful drilling and significant data
gathering at the Rogity-1 well. Our initial results show the
regional variability of the basin and have confirmed our model of a
more liquids rich system on the eastern edge of the basin. This is
yet another milestone for San Leon and our successful partnership
with Talisman Energy. Our continued systematic approach towards
evaluating our geographically and geologically diverse
unconventional gas acreage in Poland is paying off."
For further information contact:
San Leon Energy Plc Tel: + 353 1291 6292
Oisin Fanning, Executive Chairman
Dr John Buggenhagen, Exploration
Director
Macquarie Capital (Europe) Limited Tel: +44 (0) 20 3037
2000
Paul Connolly
John Dwyer
WesthouseSecurities Tel: +44 (0) 20 7601
Antonio Bossi 6100
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.
Notes to editors:
San Leon is an independent fast growing oil and gas exploration
company and is Europe's leading shale gas company by acreage. The
Company has an extensive portfolio of assets in Europe and North
Africa that will enable it to provide energy solutions for the
future.
San Leon's assets are located in Poland, Morocco, Albania,
Ireland, Spain and Italy. The Company's portfolio across these
geographies is made up of both shale (Poland Baltic Basin, Morocco
and Spain) and conventional exploration assets.
San Leon's key objective is to grow the Company significantly
and to become a leading European oil and gas player delivering
value to all its stakeholders. To achieve this San Leon, since it
was founded in 1995, has built a balanced portfolio as well as an
exceptional technical team.
The Company is listed on London's Alternative Investment Market
(ticker symbol: SLE). As at 30 June 2011 the Company had EUR42.2
million of cash and cash equivalents.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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