San Leon Energy PLC Successful completion of Szymkowo-1 well (8100H)
July 17 2012 - 2:00AM
UK Regulatory
TIDMSLE
RNS Number : 8100H
San Leon Energy PLC
17 July 2012
17 July 2012
San Leon Energy Plc
("San Leon" or the "Company")
Successful completion of Szymkowo-1 well - third shale gas
exploration well in Poland's Baltic Basin
San Leon is pleased to announce the successful completion of its
third shale gas exploration well in Poland's Baltic Basin. The
Talisman Energy operated Szymkowo-1 well, on the Szczawno
Concession in Poland, has been drilled to a depth of 4,551 meters.
During drilling, continuous gas shows were encountered over more
than 600 meters of the lower Silurian and Ordovician shales. The
gas shows consisted of C1-C3 and are consistent with a potentially
wet gas system. The strongest gas shows were encountered in the
Lower Silurian and Ordovician interval, which is estimated to be
over 100 meters thick combined. Several intervals had significant
gas shows which the Company believes are related to natural
fracturing and possible over-pressure.
315 meters of continuous core were taken in the well to evaluate
the rock properties of the Lower Silurian, and Ordovician
intervals. In addition, an extensive open-hole logging program was
performed to further evaluate the potential of the well. Evaluation
and interpretation of the core and logs is expected to take up to
six months in preparation for continued operations in 2013. The
well was completed and cased for future operations which could
include pressure testing of the formations (DFIT test) as well as
possible fracing across several intervals.
This completes the first three vertical well program of the
Talisman Energy farm-in. The Company expects Talisman to drill and
test its first horizontal well in Q1/Q2 2013 as a continuation of
Talisman's commitment. Talisman Energy as operator, drilled 10,935
metres on three wells, Lewino 1G2, Rogity-1 and Szymkowo-1, and
have taken 900 meters of shale cores and operated for 345 days
without lost time accident.
Oisin Fanning, Chairman of San Leon commented:
"We are excited by the successful drilling and significant data
gathering at the Szymkowo-1 well. The results continue to show the
regional variability of the basin and are proof that the deeper
parts of the basin are gas charged. This is yet another milestone
for San Leon and our successful partnership with Talisman Energy as
we plan to move forward towards the next stage of our cooperation
including horizontal drilling and potential testing in 2013. Our
systematic approach towards evaluating our geographically and
geologically diverse unconventional gas acreage in Poland continues
to pay off."
For further information contact:
San Leon Energy Plc Tel: + 353 1291 6292
Oisin Fanning, Executive Chairman
John Buggenhagen, Exploration
Director
Macquarie Capital (Europe) Limited Tel: +44 (0) 20 3037 2000
Paul Connolly
John Dwyer
Fox Davies Capital Tel: +44 (0) 20 3463 5000
Daniel Fox-Davies
Oliver Stansfield
Westhouse Securities Tel: +44 (0) 20 7601 6100
Richard Johnson
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
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