The Energy to Fuel Progress Photo courtesy Talisman Energy

Dublin, Ireland - February 10, 2012

San Leon Energy Plc (AIM:SLE) - the Company’s headquarters are in Dublin with Corporate and Operations Offices in London, Warsaw, Italy and Denver - the fast growing oil and gas company with an extensive portfolio of assets across Europe and North Africa, is pleased to announce the successful completion of its second shale gas exploration well in Poland's Baltic Basin.

Talisman Energy Inc. is a global, diversified, upstream oil and gas company, headquartered in Canada. Talisman's three main operating areas are North America, the North Sea and Southeast Asia. Talisman is listed on the Toronto and New York Stock Exchanges under the symbol TLM. Courtesy of Talisman Energy

The Talisman Energy operated Rogity-1 well, on the Braniewo S Concession in Poland, has been drilled to a depth of 2,788 meters.

During drilling continuous gas shows were encountered over more than 500 meters of the Lower Silurian, Ordovician, and Middle Cambrian sections.

In February 2010, Talisman Energy entered into a farm-in arrangement with San Leon Energy PLC and its subsidiary (‘‘San Leon’’) for a 60% interest in San Leon’s three Baltic shale gas concessions in Poland. This agreement allows Talisman to leverage its North American shale gas expertise in a prospective area which is proximate to European gas markets. In 2010, a seismic acquisition program was commenced. Talisman plans to drill the first two exploration wells in 2011 with a third exploration well expected to spud late in 2011 and drill into 2012. Courtesy of Talisman Energy

The rich gas shows consisted of heavy hydrocarbons, including C1-nC8.

The richness of the gas shows is consistent with a wet gas system, confirming the Company's regional model of the eastern side of the basin being in the oil window.

San Leon Energy Geologists Photo courtesy San Leon Energy

The strongest gas shows, along with indications of oil, were encountered in the Lower Silurian interval, which is estimated to be over 100 meters thick.

Oil shows were also encountered in Ordovician limestones and shales, and in Middle Cambrian sandstone.

San Leon Energy USA Rig Denver Basin Photo courtesy San Leon Energy

334 meters of continuous core were taken in the well to evaluate the reservoir properties and mechanical properties of the Lower Silurian, Ordovician, and Middle Cambrian sections.

In addition an extensive open hole logging program was also performed to further evaluate the potential of the well.

Evaluation and interpretation of the core and logs is expected to take 3-4 months in preparation for continued operations later in 2012.

The well was completed and cased for future operations, which could include pressure testing of the formations (DFIT test) and a possible vertical frac across several intervals.

Future operations in the Braniewo S Concession are expected to include a long offset horizontal well as well as a multistage frac.

Talisman will next move the rig to the Szczawno concession to drill the Szymkowo-1 well.

San Leon Energy USA Nebraska Photo courtesy San Leon Energy

John Buggenhagen, Ph.D., Director of Exploration at San Leon Energy Group, 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.

San Leon Energy, Ramford Vanguard - Slyne 3D Photo courtesy San Leon Energy

Oisin Fanning, Chairman of San Leon commented:

"We are excited by the successful drilling and significant data gathering at the Rogity-1 well. Our initial results show the regional variability of the basin and have confirmed our model of a more liquids rich system on the eastern edge of the basin. This is yet another milestone for San Leon and our successful partnership with Talisman Energy. Our continued systematic approach towards evaluating our geographically and geologically diverse unconventional gas acreage in Poland is paying off."

San Leon Energy, Ramford Vanguard - Slyne 3D Photo courtesy San Leon Energy

San Leon also informed investors that an extensive open-hole logging programme had been performed to further evaluate the potential of the well.

Evaluation and interpretation of the core and logs is expected to take between three and four months in preparation for continued operations later in 2012, said the company.


Poland


San Leon is a significant player in the Polish market, with interests in six licence areas and the potential for substantial revenue generation through the joint venture farm-out agreement with Talisman Energy.

Given the ever increasing need for energy to fuel its growing economy, Poland is regarded as an attractive place for petroleum exploration.

Courtesy of San Leon Energy

Some two-thirds of its energy is imported from Russia and to avoid such dependence, the Polish Government is actively encouraging foreign investment to tap the potential that exists in various parts of the country.

The company has valuable shale gas concessions in the Baltic Basin and it is estimated that they have the potential to change the face of gas supply in the future.


Talisman Energy

The joint venture farm-out agreement with Talisman Energy in Poland is recognised by industry analysts as a particularly astute business move.

Talisman is viewed as the leading international shale gas player and has made a significant investment and is committed to drilling a minimum of three wells and up to six wells on the three San Leon concession to prove the shale gas play on our three licences in the Baltic Basin covering some 600,000 acres.

San Leon receives a 40% free carry with this arrangement which is effectively an inward investment in the company.

Under the terms of the deal, Talisman will:

• Pay SLE €1.5M cash

• (with PGS) pay 100% initial 2D seismic programme (over 450km)

• Drill one well per concession to earn 30% interest

• Drill at least one 1,000m horizontal with two optional 500m horizontals proposed

• Have the option to earn an additional 30% interest, with an additional well option per block.


Baltic Basin

The Baltic Basin licences comprise 600,000 acres where SLE holds 100% of three concessions including Gdansk-W, Braniewo-S, Szczawno - with a pending application on the Czersk concession.

The work programme in the Baltic Basin includes 450 km of 2D seismic and three wells (up to 4500m) with a 1000 meter horizontal section on the Braniewo-S concession to be drilled over next two years.
The initial drilling is expected Q2/Q3 2011.

Additionally, three optional wells with horizontal sections will be drilled on concessions after successful first phase of testing.

Initial technical evaluation of the shale gas potential in the Baltic Basin shows the play to have estimated reserves of 4 to 6 TCF of recoverable natural gas across San Leon's acreage.

This represents a low risk scenario with excellent commercial gas potential.


Permian Basin South

SLE is currently engaged in a 5 year exploration and development program on its two concessions, Nowa Sol and Wschowa.

Both concessions are on trend with prolific Rotliegendes gas and Zechstein oil production.

Courtesy of San Leon Energy

Nowa Sol contains four potentially under developed oil fields which SLE is currently evaluating for potential 3D seismic acquisition in 2010.

It is believed that up to 500,000 BBLS of remaining oil can be recovered from these shallow known fields.

Some 3,000 km of 2D seismic and data from 90 wells are being evaluated.

SLE's current technical evaluation also indicates that a significant unconventional gas play exists in the relatively untested Carboniferous section.


Permian Basin North

SLE's Szczecinek interests in the northern Permian Basin is also on trend with Zechstein oil production.

SLE has a 50% interest in the 980 km2 concession with its operating partner Gas Plus (50%).

Courtesy of San Leon Energy

The work programme for the concession includes the acquisition of 60km2 3D seismic survey in Q3 2010 with drilling of the Sylvia prospect planned for 2011.

Estimated reserves for Sylvia are 11.3 MMBOE.

The existing, unproduced Czarne gas field with estimated reserves of 12.4 BCFE adds additional upside to any development in this area.


SOURCE: San Leon Energy Plc

http://www.sanleonenergy.com  


About Talisman Energy Inc.


Talisman Energy Inc. is a global, diversified, upstream oil and gas company, headquartered in Canada.

Talisman's three main operating areas are North America, the North Sea and Southeast Asia.

The Company also has a portfolio of international exploration opportunities.

Talisman is committed to conducting business safely, in a socially and environmentally responsible manner, and is included in the Dow Jones Sustainability (North America) Index.

Talisman is listed on the Toronto and New York Stock Exchanges under the symbol TLM.

Contacts

Lyle McLeod
Vice President, Investor Relations
Phone: 403.767.5732
Fax: 403.237.1210

Anil Aggarwala
Manager, Investor Relations
Phone: 403.237.1145
Fax: 403.231.3629

Talisman Energy Inc.
Suite 2000, 888 - 3 Street SW
Calgary, Alberta
Canada
T2P 5C5
Tel: +403 237 1234
Fax: +403 237 1902
tlm@talisman-energy.com  

Talisman Energy Poland
Warsaw Financial Center, XIIIp.
ul. Emilii Plater 53
00-113 Warszawa
Poland
Tel: +48 22 370 6070
Fax: +48 22 370 6087
warsaw@talisman-energy.com  


SOURCE: Talisman Energy Inc.

http://www.talisman-energy.com/  


About San Leon Energy Plc


The San Leon Group is an international group of companies focussed on the exploration and production of oil and gas projects in Poland, Ireland, Italy, Morocco, Netherlands and North America.

The Company was incorporated in 1995 as an oil and gas exploration company.

Between 1995 and 2007, its principal activity was to act as an investment vehicle.

In October 2007 the Company acquired its first exploration assets, situated in Morocco.

With new management, investment and a strategy of balanced acquisition and exploration, the Company has established the portfolio of assets described in the following document.

Also in 2007, San Leon embarked on a strategic initiative by bringing in new management and investment and has actively developed a portfolio of licences and lease interests through subsidiary operations in several countries.

The Company’s headquarters are in Dublin with Corporate and Operations Offices in London, Warsaw, Italy and Denver.

In September 2008, the company listed on the London Stock Market (AIM). In 2009 and 2010 the company acquired Gold Point Energy and Island Oil and Gas Plc.

To maximise value and investment, the company’s objective is to differentiate itself from other oil and gas exploration companies by becoming a producer quickly and being recognised as a proactive, energetic and self-supporting entity.

Development Strategy

The development strategy of the Company is focused on:

• Building a diverse portfolio of assets with a focus on managing risk.

• Developing a high potential asset base in low-risk countries (Poland, Morocco, Italy, Ireland and The Netherlands).

• Creating a robust portfolio of varying sized licences and prospects.

• Accumulating oil and gas production through partnership structures and agreements.

• Continuing to identify and sign high reward exploration licences and establish relationships with the resource experience to assist in the development of licence areas.

• Create a fundraising capability to explore the high revenue wells and other prospects being evaluated.


Company Addresses

Dublin Office
San Leon Energy Plc
3300 Lake Drive
Citywest Business Campus
Dublin 24, Ireland
Tel.: +353 1 2916292
Email.: info@sanleonenergy.com  

London Office
San Leon Energy Plc
1 Berkeley Street
Mayfair. London W1J 8DJ
United Kingdom
Tel.: +44 20 7016 8825
Email.: info@sanleonenergy.com  

Warsaw Office
San Leon Energy
Mokotowska street no 1,
00-640 Warsaw
Poland
Tel.: + 48 22 378 97 00
Email.: info@sanleonenergy.com  


SOURCE: San Leon Energy Plc

http://www.sanleonenergy.com  



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