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San Leon to announce that it has found oil in southwest Poland 2012.09.02

Warsaw, Poland - August 30, 2012 - San Leon is pleased to announce that it has found oil and has completed the drilling of the Lelechow-SL1 well, the first of a two well exploration programme, on the Company's Nowa Sol Concession targeting the Main Dolomite trend in the Southern Permian Basin in southwest Poland (San Leon 100%).

Nowa Sol
Photo courtesy www.nowasol.pl
 

Warsaw, Poland - August 30, 2012

Lelechow-SL1 finds oil


San Leon is pleased to announce that it has found oil and has completed the drilling of the Lelechow-SL1 well, the first of a two well exploration programme, on the Company's Nowa Sol Concession targeting the Main Dolomite trend in the Southern Permian Basin in southwest Poland (San Leon 100%).

Nowa Sol
Photo courtesy www.nowasol.pl
 
The well was drilled to a depth of 1,167 meters TVD.

Nowa Sol
Photo courtesy www.nowasol.pl
 
Initial evaluation of the results from core and wireline logging results indicate the primary target in the Zechstein Main Dolomite is highly fractured and contains moveable oil.

Nowa Sol
Photo courtesy www.nowasol.pl
 
Oil was recovered to the surface during initial clean out of the well.


Nowa Sol
Photo courtesy www.nowasol.pl
 
Final completion of the well will incorporate an electrical submersible pump to continue to clean out the well and maximize oil flow rates during production.

San Leon Energy Geologists
Photo courtesy San Leon Energy
 
The Company expects to resume testing of the well in the next few weeks pending final completion of drilling operations.


Courtesy of San Leon Energy
 
Well completion is being designed for near-term commercial production from the well.

Courtesy of San Leon Energy
 
The Company is now preparing to move the rig to begin drilling the Czaslaw-SL1 well, the second well in the Nowa Sol Concession, which will also test the Main Dolomite.


Oisin Fanning, Executive Chairman, San Leon Energy Plc
Photo courtesy San Leon Energy
 

Executive Chairman, Oisin Fanning commented:

"It is very encouraging to be able to report oil in our first well on the Main Dolomite trend in Poland that resulted from our own 3D seismic survey and interpretation on the Nowa Sol Concession. We will only know the oil production potential and recovery rates once the well is completed, cleaned up and tested but are excited because the fractured nature of the Main Dolomite offers significant upside in the play. The Company is now preparing to move the rig to begin drilling Czaslaw-SL1 well, our second well in the Main Dolomite trend."


For further information contact:

San Leon Energy Plc
Oisin Fanning, Executive Chairman
John Buggenhagen, Exploration Director

Tel: +353 1291 6292

Macquarie Capital (Europe) Limited
Paul Connolly
John Dwyer
Tel: +44 (0) 20 3037 2000

Fox Davies Capital
Daniel Fox-Davies
Richard Hail
Tel: +44 (0) 20 3463 5000

FirstEnergy Capital LLP
Hugh R. Sanderson
David Van Erp
Tel: +44 (0) 20 7448 0200

Westhouse Securities (Nominated Advisor)
Richard Johnson
Antonio Bossi
Tel: +44 (0) 20 7601 6100

College Hill Associates
Nick Elwes
Alexandra Roper
Tel: +44 (0) 20 7457 2020


SOURCE: San Leon Energy Plc

http://www.sanleonenergy.com/home.aspx  

 
 


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