Apr 02

Prospective Resources Estimates Announcement

By Curve San Leon Energy No Comments »

 

San Leon Energy, the fast growing oil and gas company with an extensive portfolio of assets across Europe and North Africa, notes this morning’s announcement from Longreach Oil & Gas Ltd (Longreach), updating on the independently evaluated resource estimates for the Foum Draa and Sidi Moussa licences, offshore Morocco, by Netherland, Sewell & Associates Inc. San Leon owns a 42.5% net operated interest in these licences.

The full announcement by Longreach stated the following:

Prospective Resources Estimates

Longreach is pleased to announce prospective resource estimates for offshore licences Foum Draa and Sidi Moussa, independently evaluated for the Company by Netherland, Sewell & Associates Inc. (NSAI), in accordance with NI 51-101 disclosure requirements.

NSAI have estimated unrisked prospective resources, as of 31st December 2011 for 14 identified prospects and 8 additional leads located in the Foum Draa and Sidi Moussa licences, offshore Morocco. The prospects are Triassic to Paleocene in age and there are a variety of trapping mechanisms such as tilted fault blocks, stratigraphic pinch outs and salt related traps over and against salt diapir flanks. The reservoir rock types are mainly sandstones, but there is also a shelf edge Jurassic carbonate play.

Unrisked prospective resources have been estimated as follows:

Unrisked Prospective Resources

Gross (100 Percent)

Longreach Gross Interest¹

Oil

Gas

Oil

Gas
Category

(MMbbl)

(Bcf)

(MMbbl)

(Bcf)
Low Estimate

751.7

302.9

56.4

22.7
Best Estimate

2138.8

1008.5

160.4

75.6
High Estimate

6105.3

3145.3

457.9

235.9

¹ Figures calculated net of ONHYM’s 25% back in, giving Longreach with a 7.5% working interest

Unrisked prospective resources are the arithmetic sum of multiple probability distributions. Longreach owns a 7.5% interest in these prospects and leads. A copy of NSAI’s report has been filed on SEDAR.

A dataroom to attract industry partners ahead of commencing a drill campaign was opened on 22nd February and will remain open until 4th May 2012. 18th May has been set as a date for receiving note of Interests from prospective farminees, with final bids to be received by 15th June 2012.

Commenting, Bryan Benitz, Chairman and CEO of Longreach, said:

 

“Management believes that these unrisked prospective resource estimates reinforce the excellent work that Technical Operators, Serica Energy have done on these licences over the past two years and demonstrate the significant potential these licences have. The largest identified prospect, Apricot, is a stratigraphic pinch out play concept with dual target potential. NSAI’s report states the best estimate of unrisked prospective resources to be 584 MMbbls and 350 Bcf for this dual target prospect, which management believes is significant in its own right.

 

The dataroom has already attracted significant interest and we look forward to concluding this process in June.”

Source: San Leon Energy

Tagged with: • • • •
Mar 08

San Leon Energy Issues Details on Spudded Well

By Curve San Leon Energy No Comments »

 

San Leon Energy today released information on the spudding of the Szymkowo-1 well on its Szczawno Concession in the Baltic Basin, Poland, a well operated by Talisman Energy.

You can read the full release here:

San Leon Release Well Spudded

Tagged with: • • •
Feb 28

San Leon Energy Partner Reports Crude Finding off Irish Coast

By Curve oil production, San Leon Energy No Comments »

 

SHARES in Providence Resources soared yesterday after the company reported that it has found crude oil at what could be a large oil reservoir off the south coast of Ireland.

“We’ve delivered on what we said,” Providence chief executive Tony O’Reilly said yesterday. “The markets are reacting.”

The shares rose as much as 25pc in Dublin after Providence said it had found light crude oil in a large sandstone reservoir about 7,550ft under the sea off the south coast. Providence found the crude oil while drilling an appraisal well — its fifth in the area.

All the wells have shown evidence of oil, which suggests the field could be larger than previously hoped. Oil samples from the reservoir have now been sent for testing in a UK laboratory.

“This is uniformly good news for Providence shareholders,” said Joe Langebroek, of Davy Stockbrokers. “The next step is the flow test but so far so good.”

Providence, which owns 80pc of the Barryroe oil field, expects to conduct a flow test in few days’ time. That test will give a good indication of whether the find is commercial and the results could be made public in early March.

Analysts said the well must produce about 1,800 barrels of oil or gas equivalent every day to make commercial sense. Any oil could eventually be transported by pipe to the Whitegate refinery in Cork.

Providence is engaged in the biggest drilling programme in Irish history as it looks for oil and gas off the Irish coast. Barryroe was one of the first areas to be drilled because it has proven reserves. Providence hopes new drilling techniques and better computer imaging mean that it will be possible to find commercial oil.

“The market is moving to us,” Mr O’Reilly said. “Prices and technology are helping.”

Technical director John O’Sullivan said Providence could now look forward to materially progressing the project.

“These sands, which appear to have an intact overlying pressure seal, sit directly on proven, mature and oil-prone source rock and therefore open the route to significant resource volumes within the Barryroe licence area,” he said.

Providence holds an 80pc interest in the licence and operates it on behalf of its partners, San Leon Energy and Lansdowne Oil and Gas. The shares closed up 77c, or 22pc, at €4.20 in Dublin yesterday.

Source: Irish Independent

Tagged with: • •
Feb 16

A New Potential Unconventional Gas Play in Poland

By Curve Poland, San Leon Energy No Comments »

 

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.”

Tagged with: • • •
Feb 09

San Leon Announces Successful Completion of Rogity-1 Well

By Curve San Leon Energy No Comments »

 

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.

Tagged with: • • •
Feb 01

San Leon Energy Annouces Creation of an Advisory Committee

By Curve San Leon Energy No Comments »

 

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.

 

 

Tagged with:
Jan 25

San Leon Energy Plc Announces Completion of Morocco 2D Seismic Campaign

By Curve San Leon Energy No Comments »

 

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

 

Tagged with: • • •
Jan 06

More Details on San Leon Energy and Providence Resources Deal

By Curve San Leon Energy No Comments »

 

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

Tagged with: •
Jan 06

San Leon Energy Transfer of Interest

By Curve San Leon Energy No Comments »

 

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 Strengthens Position in Irish Permit

By Curve San Leon Energy No Comments »

 

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

Tagged with:
Previous Entries Next Entries
preload preload preload