Praszka Concession Awarded (7031D)

TIDMSLE

RNS Number : 7031D

San Leon Energy PLC

21 May 2012

21 May 2011

San Leon Energy Plc

("San Leon" or the "Company")

Praszka Concession Awarded in Southern Permian/SW Carboniferous Basin of Poland

San Leon Energy, 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 been awarded the Praszka exploration concession ("Praszka Concession"), by the Polish Ministry of Environment, in the Southern Permian/SW Carboniferous Basin of Poland. The Praszka Concession covers an area of 296,082 acres (1198.2 km(2) ) including all of Polish Block 309 and portions of 310. This concession further expands San Leon's large, contiguous S Permian/Carboniferous acreage to over 1.2 million net acres (4,891.2 km(2) ), which is 100% controlled by the Company.

The Praszka Concession further expands San Leon's holdings in the unconventional gas play in the Carboniferous following the successful drilling of the Company's Siciny-2 well earlier this year. The Praszka Concession also contains potential conventional prospectivity in the Permian Zechstein and Rotligendes formations on trend with existing production.

Oisin Fanning, Chairman of San Leon, commented:

"We are very excited to continue to expand our prospective acreage position in Poland. Our focus on the huge upside potential of the Carboniferous follows the Company's strategy of building a diverse portfolio of high potential assets. San Leon is now the dominant player in the basin. "

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 
  John Dwyer 
 
  Westhouse Securities                 Tel: +44 (0) 20 7601 
  Richard Johnson                      6100 
  Antonio Bossi 
 College Hill Associates              Tel: +44 (0) 20 7457 
                                       2020 
 Nick Elwes

www.sanleonenergy.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCQVLFFLEFFBBX

San Leon Energy (LSE:SLE)
Historical Stock Chart
From Jun 2024 to Jul 2024