San Leon Energy PLC Award of Additional Blocks (9399K)
August 29 2012 - 2:00AM
UK Regulatory
TIDMSLE
RNS Number : 9399K
San Leon Energy PLC
29 August 2012
29 August 2012
San Leon Energy Plc
("San Leon" or the "Company")
Award of additional blocks to its existing Tarfaya Oil Shale
Acreage and extension of exclusivity period
San Leon is pleased to announce that it has been awarded four
additional blocks covering an area of 16 km(2) through the addition
of permits number 13, 14, 15 and 16, on its Tarfaya oil shale
project area in Morocco. These blocks can be mined and are
candidates for the application of surface retorting processes.
These four new blocks are in addition to San Leon's existing oil
shale acreage of 6,000 km(2) awarded in 2009 under an exclusive MoU
dedicated to application of its In Situ Vapor Extraction process
("IVE Technology"). The Office National des Hydrocarbures et des
Mines ("ONHYM"), the Moroccan national petroleum and mining agency,
and San Leon have agreed to an amendment to extend the duration of
the exclusivity period of the original MoU for an additional two
years to March 2014 and to extend its scope to include application
of any other ex-situ (retort) process .
Oisin Fanning, Chairman of San Leon, commented:
"We are delighted by the continued support received from ONHYM
in extending our original MoU dedicated to in situ extraction for a
further two years and for awarding us the additional blocks. We
remain committed to early development of the huge potential of our
existing Moroccan oil shale acreage and we now have two parallel
strategies; applying our in situ IVE Technology to the deeper
resource and, applying existing proven surface retort technology.
This should help us to accelerate early exploitation and commercial
production of this world-class resource."
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
Richard Hail
FirstEnergy Capital LLP Tel: +44 (0) 20 7448 0200
Hugh R. Sanderson
David Van Erp
Westhouse Securities (Nominated Tel: +44 (0) 20 7601 6100
Advisor)
Richard Johnson
Antonio Bossi
College Hill Associates Tel: +44 (0) 20 7457 2020
Nick Elwes
Alexandra Roper
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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