Completion of Siciny-2 Well (3667X)
February 14 2012 - 2:00AM
UK Regulatory
TIDMSLE
RNS Number : 3667X
San Leon Energy PLC
14 February 2012
14 February 2012
San Leon Energy Plc
("San Leon" or the "Company")
A New Potential Unconventional Gas Play in Poland - Completion
of Siciny-2 Well
San Leon, the fast growing oil and gas company with an extensive
portfolio of assets across Europe and North Africa, is pleased to
announce that it has completed the drilling, initial evaluation,
and has cased its Siciny-2 well in the SW Carboniferous Basin of
Poland, which comprises of 880,000 acres held 100% by San Leon. The
well is located in the company's 100% operated Gora Concession 70km
to the southeast of the city of Zielona Gora. The initial goal of
collecting core and downhole geophysical data focused on
understanding the unconventional gas potential of the Carboniferous
section has been achieved. The Carboniferous is known to be the
source rock for the significant gas production in the overlying
Permian Rotliegendes formation in Poland.
The stratigraphic test well reached target depth of 3,520 meters
after penetrating more than 1,000 meters of Carboniferous section.
More than 265 meters of continuous core were collected across three
prospective intervals identified in the Siciny-1 well. A previously
unseen fourth potential Carboniferous shale section and a fractured
tight gas sandstone was also encountered below 3,200 meters in the
well. Tight rock analysis will be performed on the core to evaluate
the potential for commercial shale gas and tight gas sand
production. Valuable drilling data was also obtained in drilling
the complex structure of the Carboniferous section, allowing the
Company to reduce the time and cost of drilling future wells.
During drilling, continuous gas shows (C1-C3) were encountered
across the four prospective shale intervals as well as through the
tight sandstone interval. Evaluation and interpretation of the core
and logs is expected to take 3-4 months in preparation for future
production testing operations. The well was cased for further
operations, which could include, pressure testing of the
prospective zones (DFIT test) and also possible vertical fracture
stimulation and production tests across several intervals.
The Company is focusing on analyzing the final technical results
of the well in preparation for testing.
Oisin Fanning, Chairman of San Leon commented:
"We are encouraged by the initial results of the Siciny-2 well
showing four potential zones for unconventional gas production,
including a newly identified interval. In total we encountered more
than 500 meters of potential reservoir for further analysis and
possible testing. The complex nature of the Carboniferous source
rock, including natural fracturing, shows real promise for gas
production. Based upon these initial results we have completed the
well for future testing operations.
The successful drilling and completion of the Siciny-2 well is
another milestone in proving our operating capabilities and the
potential of our diverse exploration portfolio."
For further information contact:
San Leon Energy Plc Tel: + 353 1291
6292
Oisin Fanning, Executive
Chairman
Dr John Buggenhagen, Exploration
Director
Macquarie Capital (Europe) Tel: +44 (0) 20
Limited 3037 2000
Paul Connolly
John Dwyer
Westhouse Securities Tel: +44 (0) 20
Antonio Bossi 7601 6100
Richard Johnson
Fox Davies Capital
Daniel Fox-Davies Tel: +44 (0) 203
463 5060
Oliver Stansfield Tel: +44 (0) 203
463 5061
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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