San Leon Energy PLC Nowa Sol Operations Update (9091M)
September 24 2012 - 2:00AM
UK Regulatory
TIDMSLE
RNS Number : 9091M
San Leon Energy PLC
24 September 2012
24 September 2012
San Leon Energy Plc
("San Leon" or the "Company")
Nowa Sol Operations Update
Following the Lelchow SL-1 Update dated August 30, 2012 that
confirmed an oil find on the Company's Nowa Sol Concession in the
Southern Permian Basin in southwest Poland (San Leon 100%), the
Company is now proceeding with the planned completion for the
well.
Well completion has been designed for near-term commercial
production from the well. An electric submersible pump ("ESP"),
including all required downhole and surface completion equipment to
clean out the well and maximize oil flow rates during initial
production testing, have been ordered from Schlumberger and are
currently being shipped to the well site in Poland. Well completion
is expected to be performed within the first two weeks of October
to be followed by cleanup and initial flow testing immediately
thereafter. The timing of initial flow testing will be later than
initially indicated due to the need to retrofit the wellhead to
make it compatible with the proposed ESP.
The spud of the Czas aw SL-1 well, the second of a two-well
exploration programme focused on the Main Dolomite trend, has been
delayed due to permitting delays with the local mining authorities.
The surface location is complete and ready for immediate
mobilization of the drilling rig pending final permits. The well is
expected to spud within the next 30 days.
Executive Chairman, Oisin Fanning commented:
"We will keep the market informed of developments on our
proposed production testing on our encouraging Lelchow oil find and
on progress on obtaining a permit to spud our second well in this
drilling programme. We are working with our suppliers and the
authorities to minimize future operational delays and to streamline
the process for our future drilling activity. These delays are
unfortunate but reflect the fact we are working in an evolving
regulatory environment in Poland."
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
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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