San Leon Energy announces that application has been made for the admission to AIM of 165,000 new ordinary shares of €0.05 each in the Company, pursuant to the exercise of warrants.
Read the pdf version of the announcement here
Feb 16
Press Release issued by San Leon Energy Regarding the Completion of Siciny-2 Well
San Leon, the fast growing oil and gas company with an extensive portfolio of assets across Europe and North Africa, is pleased to announce that it has completed the drilling, initial evaluation, and has cased its Siciny-2 well in the SW Carboniferous Basin of Poland, which comprises of 880,000 acres held 100% by San Leon. The well is located in the company’s 100% operated Gora Concession 70km to the southeast of the city of Zielona Gora.
The initial goal of collecting core and downhole geophysical data focused on understanding the unconventional gas potential of the Carboniferous section has been achieved. The Carboniferous is known to be the source rock for the significant gas production in the overlying Permian Rotliegendes formation in Poland.
The stratigraphic test well reached target depth of 3,520 meters after penetrating more than 1,000 meters of Carboniferous section. More than 265 meters of continuous core were collected across three prospective intervals identified in the Siciny-1 well. A previously unseen fourth potential Carboniferous shale section and a fractured tight gas sandstone was also encountered below 3,200 meters in the well.
Tight rock analysis will be performed on the core to evaluate the potential for commercial shale gas and tight gas sand production. Valuable drilling data was also obtained in drilling the complex structure of the Carboniferous section, allowing the Company to reduce the time and cost of drilling future wells.
During drilling, continuous gas shows (C1-C3) were encountered across the four prospective shale intervals as well as through the tight sandstone interval. Evaluation and interpretation of the core and logs is expected to take 3-4 months in preparation for future production testing operations. The well was cased for further operations, which could include, pressure testing of the prospective zones (DFIT test) and also possible vertical fracture stimulation and production tests across several intervals.
The Company is focusing on analyzing the final technical results of the well in preparation for testing.
Oisin Fanning, Chairman of San Leon commented:
“We are encouraged by the initial results of the Siciny-2 well showing four potential zones for unconventional gas production, including a newly identified interval. In total we encountered more than 500 meters of potential reservoir for further analysis and possible testing. The complex nature of the Carboniferous source rock, including natural fracturing, shows real promise for gas production. Based upon these initial results we have completed the well for future testing operations.
The successful drilling and completion of the Siciny-2 well is another milestone in proving our operating capabilities and the potential of our diverse exploration portfolio.”
Source: San Leon Energy
Feb 09
10 February 2012
Dublin, Ireland
San Leon Energy Plc
(“San Leon” or the “Company”)
Testing the Eastern Baltic Basin – Rogity-1 Well Drilled
San Leon, 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. 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. 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. 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.
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.
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.”
Notes to editors:
San Leon is an independent fast growing oil and gas exploration company and is Europe’s leading shale gas company by acreage. The Company has an extensive portfolio of assets in Europe and North Africa that will enable it to provide energy solutions for the future.
San Leon’s assets are located in Poland, Morocco, Albania, Ireland, Spain and Italy. The Company’s portfolio across these geographies is made up of both shale (Poland Baltic Basin, Morocco and Spain) and conventional exploration assets.
San Leon’s key objective is to grow the Company significantly and to become a leading European oil and gas player delivering value to all its stakeholders. To achieve this San Leon, since it was founded in 1995, has built a balanced portfolio as well as an exceptional technical team.
The Company is listed on London’s Alternative Investment Market (ticker symbol: SLE). As at 30 June 2011 the Company had €42.2 million of cash and cash equivalents.
Feb 01
31 January 2012
San Leon Energy Plc
(“San Leon” or the “Company”)
Creation of an advisory committee
San Leon Energy, the fast growing oil and gas company with an extensive portfolio of assets across Europe and North Africa, is pleased to announce the formation of an advisory committee (“Advisory Committee”).
A key role of the Advisory Committee will be to work alongside the management team when considering macro issues associated with the industry. The Advisory Committee will be made up of a number of experienced industry professionals who have a wealth of experience in the energy industry. It is expected that the Advisory Committee will help San Leon build on the success that the Company has already achieved as well as provide senior guidance, invaluable strategic and industry insight, as well as their expertise and advice as the Company looks to continue to develop its portfolio of assets. A key role of the Advisory Committee will be to working alongside the management team and evaluate new opportunities that the Company is investigating.
The Advisory Committee will initially be made up of the following members, with Nick Butler also serving as the Advisory Committee’s Chairman:
Nick Butler, Chairman, is Visiting Professor and Chair of the Kings Policy Institute at Kings College London as well as an energy consultant to a number of companies working internationally in the natural gas and renewables industries. He has worked previously for BP, where he served as Group Vice President for Strategy and Policy Development from 2002 to 2006 and as Senior Policy Adviser to the Prime Minister on business policy issues up to the May 2010 election.
Gerard Medaisko is a geologist by training who has worked in the industry for over 50 years. He has previously worked with a number of companies holding numerous positions including CEO of Transworld Petroleum. He also founded natural resource company Geotherme. He was also Chief Petroleum Advisor to the Department of Technical Cooperation for Development and the United Nations Institute for Training and Research at the United Nations. Currently he is President and CEO of Westbank Resources, President of G.S Medaisko Associates PLC and is also a consultant to the United Nations.
Robert Price is an energy industry professional who has worked across numerous aspects of the energy industry. He has worked at First National bank and Trust Company (now JP Morgan Chase Bank) as well as setting up his own oil and gas exploration company, Brooks Energy, focussed in the mid-continent and Rocky mountain regions. He was also a member of the US Department of the Interior’s Mineral Management Service Royalty Policy Committee as well as serving on numerous other state and local civic boards and commissions. He is also founder and Chairman of Zeledyne, the manufacturer and distributor of automotive glass.
Oisin Fanning, Chairman of San Leon, commented:
“The creation of the Advisory Committee is another important step in our development. This committee brings together exceptional talent with wide ranging expertise across many aspects of the energy environment.
To have attracted individuals of this calibre is a testament to the excellent team that we already have in place as well as the exciting potential that we believe is inherent across our portfolio.
This provides San Leon with a unique and unrivalled pool of knowledge that will accelerate the development of our assets and grow our company further for the benefit of all our stakeholders. We look forward to working with the Advisory Committee and benefitting from their expertise and insights.”
Notes to editors:
San Leon is an independent fast growing oil and gas exploration company and is Europe’s leading shale gas company by acreage. The Company has an extensive portfolio of assets in Europe and North Africa that will enable it to provide energy solutions for the future.San Leon’s assets are located in Poland, Morocco, Albania, Ireland, Spain and Italy. The Company’s portfolio across these geographies is made up of both shale (Poland Baltic Basin, Morocco and Spain) and conventional exploration assets.
San Leon’s key objective is to grow the Company significantly and to become a leading European oil and gas player delivering value to all its stakeholders. To achieve this San Leon, since it was founded in 1995, has built a balanced portfolio as well as an exceptional technical team.
The Company is listed on London’s Alternative Investment Market (ticker symbol: SLE). As at 30 June 2011 the Company had €42.2 million of cash and cash equivalents.
Jan 25
Wednesday, January 25th, 2012
San Leon Energy Plc (AIM:SLE) (“San Leon” or the “Company”) is pleased to announce that it has completed the acquisition of more than 2,280 km of 2D seismic across its Tarfaya and Zag Licenses onshore Morocco. The data was acquired by San Leon Energy’s wholly owned subsidiary, NovaSeis.
608 line km of high density 2D seismic data was acquired on the northern portion of the San Leon operated Tarfaya License across the J North prospect. This adds to the existing 2,289 line km of existing 2D seismic across the license. The Netherland, Sewell & Associates 2008 CPR placed 156 million barrels of recoverable prospective oil resources in the J North prospect with upside potential of more than half a billion barrels. In total San Leon currently has 12 leads and prospects across the Tarfaya license with net prospective resources of 711 million barrels of oil equivalent based on the Netherland, Sewell & Associates 2008 CPR. Several new adjacent leads have also been identified around J North as a result of the new 2D seismic data.
The new seismic data quality is significantly improved compared to previous 2D seismic data in the area as a result of longer offsets and higher density acquisition. The new data is currently being processed and interpreted by the Company in its Warsaw office.
1,674 km of 2D seismic data was acquired across the San Leon operated Zag License in Morocco (greater than 5 million acres). This is the first seismic data ever acquired across the Zag License. The combined Zag Basin aeromagnetic survey acquired in 2009 by San Leon and the adjacent license to the north was the basis for the layout of the 2D program. The Company is focusing on the Zag license for both conventional and unconventional oil and gas potential. The unconventional gas potential is primarily within the Silurian interval, whilst the conventional oil and gas potential is in the Ordovician and Devonian intervals.
The Company will continue integrating the new seismic results into its existing basin model in preparation for opening a data room to seek partners for the exploration drilling phase. Any future exploration activities in the Southern provinces will, as they have been to date, be in accordance with international law.
NovaSeis (“the Crew”) was established by San Leon to acquire its onshore seismic data at lower cost with the flexibility to optimise acquisition parameters in difficult data areas. The Crew currently has 1,200 channels of Geospace Technologies (subsidiary of OYO Geospace) cableless GSRs with five Sercel NOMAD vibrators. The Company plans continued investment into NovaSeis to expand its capabilities to 3D acquisition this year as part of upcoming seismic acquisition programs in Poland. While NovaSeis was created to serve the needs of the San Leon Energy group, it is also available to acquire revenue-generating projects outside the Company.
Oisin Fanning, Chairman of San Leon, commented:
“We view Morocco as a long term project for the Company with significant upside over a huge unexplored area. The excitement of the potential of Morocco is based upon the significant production in the same basin in Algeria as well as the huge potential for a Silurian shale gas play. The completion of our seismic program is the next step in bringing our projects closer to drilling.
I am also very pleased with our investment in NovaSeis which has helped us acquire high quality, low cost seismic and given us the flexibility to acquire more data per line km than we could have using a more conventional cable acquisition system. The next step for NovaSeis is to return to Poland where the wireless system will make a real impact by significantly reducing the surface impacts of seismic acquisition while giving us the flexibility to acquire data in areas that a traditional system would not be possible.”
Source: San Leon Energy
Jan 06
The Irish Examiner goes into more detail on the agreement reached between San Leon Energy and Providence Resources, earlier this week:
Exploration firm Providence Resources has increased its equity stake in the Barryroe well, off the Cork coast in the Celtic Sea, to 80%.
The company already owned a 50% stake in the asset — which marks the starting point on its wide-reaching drilling campaign offshore Ireland — but is now acquiring the 30% controlled by San Leon Energy.
San Leon will receive a 4.5% net profit interest in the licence.
After the transaction is completed — pending Government approval — Providence will have an 80% share of Barryroe and will continue as operator of the licence, while Lansdowne Oil & Gas will hold the remaining 20%.
Providence’s chief executive Tony O’Reilly Jnr said: “This transaction makes perfect strategic sense for both companies, allowing each to focus on their respective core areas. Providence remains firmly focused on its Irish port-folio, with the Barryroe appraisal well being the first well of its multi-year,multi-basin drilling programme.”
Providence issued its end-of-year trading review on Thursday in which Mr O’Reilly said “the time has come” for Ireland’s hydrocarbon potential to be realised.
Touching on the firm’s ambitious drilling plans for Irish waters over the next few years, he mentioned recent appraisal drilling at Barryroe and said the significance of this should not be underestimated.
“The successful demonstration of a commercial flow rate should not only unlock the substantial value of this particular asset, but should also trigger a complete industry re-appraisal of the Irish offshore,” he added.
Full results from appraisal works at Barryroe will be known in the coming weeks. Following Celtic Sea drilling — at both Barryroe and Hook Head — Providence will begin drilling at its Kish Bank Basin asset, off the Dublin coast near Dalkey Island; before moving north to Rathlin Island.
Source: Irish Examiner
Jan 06
San Leon Energy Plc (“San Leon” or the “Company”) announces that the Company has been advised by its partner Beach Energy Ltd (Beach”), that, as part of its ongoing portfolio management, it is withdrawing from the Durresi Block, offshore Albania.
Beach Energy Ltd (“Beach”) has announced the withdrawal as part of an international update where it has also announced that it is withdrawing from licences in Albania, Spain and Egypt.
As a result of this and subject to regulatory approval, Beach Energy (Frankfurt: 859699 – news) ‘s 25% interest will now transfer to San Leon who will now hold 100% of the Durresi Block.
Jan 03
Providence Resources has agreed to acquire San Leon Energy’s 30% working interest in a Celtic Sea license off southern Ireland.
The transaction will lift Providence’s stake in Standard Exploration License 1/11 from 50% to 80%.
In exchange, San Leon will receive a 4.5% net profit interest in the concession, where appraisal drilling is under way on the Barryroe oil discovery.
Source: Pennenergy.com
Nov 23
The announcement last week that San Leon Energy had successfully spudded its first well in the Baltic Basin has injected fresh energy into the Polish shale gas industry. United Press International has more details:
Shale gas development in Poland has gathered momentum after news that an Irish-Canadian joint venture has found success with a Baltic Basin well.
San Leon Energy, an Irish company associated with financier George Soros and BlackRock Investment and its Canadian oil and gas exploration partner Talisman Energy, announced late last week it had successfully completed its first shale gas exploration well in Pomorskie province in northern Poland.
Drilling to a depth of 11,800 feet through middle and lower Silurian, Ordovician and Upper Cambrian shales, San Leon officials said they encountered “continuous gas shows” consisting of methane with a small percentage of ethane, propane, butane and pentane at its Lewino 1G-2 well in the Gdansk W Concession.
The find joins a pair of vertical wells and a horizontal well drilled in Poland by ConocoPhillips and 3Legs, while another partnership made up of BNK Petroleum, RAG and Sorgenia has also drilled two vertical wells, the energy industry trade journal Upstream Online reported.
“The successful drilling and data gathering at the Lewino 1G-2 well is a significant milestone for San Leon and our partnership with Talisman Energy,” San Leon Chairman Oisin Fanning said.
“Our systematic approach over the last three years of acquiring high potential acreage in Poland, finding an experienced partner in Talisman and acquiring a significant 2-D seismic database has lead to our first successful well in the Baltic Basin.”
The next step, he said, is to evaluate the geological data in preparation for the next phase of the project — “to prove the viability of commercially producing the huge quantity of gas from the Baltic Basin.”
Part of the study will include looking at more than 1,000 feet of core taken from the well and examining extensive open hole logs.
“Evaluation and interpretation of the core and logs is expected to take three-four months in preparation for continued operations later in 2012,” Fanning said.
San Leon calls itself a significant player in the Polish market, with interests in six license areas. Last year it established a joint venture farm-out agreement with Talisman. The Canadian firm has committed to drilling a minimum of three wells and up to six wells on the three San Leon concessions.
The success at Lewino 1G-2 came two months after San Leon’s Chopin-1 well came up dry after a $947,000 investment on a different concession. That early setback followed a $139 million purchase of fellow Polish explorer Realm Energy, the Financial Times reported.
The U.S. Energy Information Administration in April estimated Poland’s shale gas deposits were the highest in Europe at around 187 trillion cubic feet of technically recoverable reserves.
The Polish Environment Ministry has issued more than 70 licenses for shale to some of the largest energy companies in the world during the last three years as it seeks to greatly reduce its dependence on Russia and the Middle East for energy.
The U.S. analysts determined Europe has 618 trillion cubic feet of technically recoverable shale gas. Along with Poland, the Czech Republic, Ukraine, Britain, Austria and Hungary are also conducting shale gas explorations.
Industry experts, however, have cautioned it will take several years for the Baltic Basin to be developed and begin contributing to a realignment of Europe’s energy picture.
Source: United Press International
Nov 23
Providence Resources has begun appraisal drilling operations on the Barryroe oilfield, located in the Standard Exploration Licence 1/11 in the North Celtic Sea Basin, offshore southern Ireland.
The company is now drilling the 48/24-J appraisal well in the Barryroe field using the GSF Arctic III semi-submersible rig.
The well will offset and primarily appraise the previous Marathon Oil operated 48/24-3 (1990) well, which tested about 45 degrees API light sweet oil at about 1,600bopd from Base Cretaceous sands.
Providence said the 48/24-J well is planned to acquire a modern set of wire-line logs, together with an orientated conventional core through the primary objective.
Providence is the operator of the licence with a 50% interest while its partners San Leon Energy and Lansdowne Oil & Gas hold 30% and 20% interests, respectively.
Source: Energy Business Review
Follow Us