San Leon Energy PLC Morocco Onshore Rig Contract Signed (9339R)
July 02 2015 - 2:00AM
UK Regulatory
TIDMSLE
RNS Number : 9339R
San Leon Energy PLC
02 July 2015
02 July 2015
San Leon Energy Plc
("San Leon" or "the Company")
Morocco Onshore Rig Contract Signed
San Leon Energy, the AIM listed company focused on oil and gas
exploration in Europe and North Africa, is pleased to announce the
signing of a rig contract for the drilling of the El Aaiun-4 well
on the Tarfaya conventional licence, onshore Morocco.
The rig contract has been signed with Entrepose Drilling for the
Cabot 750 rig. The well is expected to spud in the second half of
August 2015, and will take approximately 30 days to reach total
depth (TD) of around 2000 metres below rotary table. The reservoir
target is Tertiary channel sandstones, with good reservoir
properties expected, and the surface location is approximately 14
Km from a gas market (El Marsa OCP phosphate processing plant, near
Foum el-Oued).
Oisin Fanning, San Leon Executive Chairman, commented:
"As previously stated, one of our main priorities this year has
been to commence drilling the onshore Tarfaya well, El Aaiun-4, and
the rig contract with Entrepose Drilling brings us one step closer
to this. We look forward to the near-term drilling of the El
Aaiun-4 well, with its structural location updip of gas encountered
in an older well, as well as its proximity to the gas market and
other nearby similar channel targets for follow-on wells. We
believe this well has significant potential and we shall update the
market when the El Aaiun-4 spuds."
Qualified person
Joel Price, who has reviewed this update, has more than 20
years' experience in the oil & gas industry and is a member of
the Society of Petroleum Engineers. He holds a BA in Natural
Sciences from Cambridge University, an MEng from Heriot-Watt
University, and an MBA from Durham University. Joel is Chief
Operating Officer for San Leon Energy and is based in San Leon's
London office.
Enquiries:
San Leon Energy plc
Oisin Fanning, Executive
Chairman +353 1291 6292
Brandon Hill Capital
Oliver Stansfield +44 (0) 20
Jonathan Evans 3463 5000
finnCap Ltd
Corporate Finance
Matt Goode
Christopher Raggett
Corporate Broking +44 (0) 20
Joanna Weaving 7220 0500
Macquarie Capital
(Europe) Limited
Jon Fitzpatrick +44 (0) 20
Nicholas Harland 3037 2000
Westhouse Securities
Ltd
Nominated Adviser
Richard Johnson +44 (0) 20
Antonio Bossi 7601 6100
Vigo Communications
Financial Public
Relations
Chris McMahon +44 (0) 20
Alexandra Roper 7016 9572
Plunkett Public Relations +353 (0) 1
Sharon Plunkett 280 7873
www.sanleonenergy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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