San Leon Energy PLC Rawicz-15 Well Test Complete (5047U)
07 April 2016 - 8:15PM
UK Regulatory
TIDMSLE
RNS Number : 5047U
San Leon Energy PLC
07 April 2016
7 April 2016
San Leon Energy Plc
("San Leon" or "the Company")
Rawicz-15 Well Test Complete
San Leon Energy Plc ("San Leon"), the AIM listed company focused
on oil and gas exploration and production in Europe and Africa,
announces the completion of the well testing on the Rawicz-15
well.
The Rawicz-15 development well on the 742 km(2) Rawicz
Concession in Poland's southern Permian Basin, was stimulated and
flowed at an average rate of in excess of 3.6 mmscfd (million cubic
feet per day) over the main flow period of several days. The well
is now shut in, and the pressure build-up information will be
analysed, interpreted and used to update the reservoir model.
The Rawicz project is operated by Palomar Natural Resources
("Palomar") which holds a 65% participating interest in the
concession, and the completion of testing of this well means that
this interest has now been fully earned and future work will be
funded according to participating interests. San Leon holds a 35%
participating interest in the concession.
Field development continues to progress and Palomar is
finalising a full development plan to be submitted to the Polish
government for approval. Pipeline, facility and final project
engineering are nearly complete, while all required permits,
rights-of-way and regulatory approvals are being obtained. Gas
off-take agreements are being negotiated with several groups. The
operator's development plan now envisages at least three wells
available for first production (including Rawicz-12 and Rawicz-15),
now expected in early 2017.
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 (Geology) from Cambridge University, an MEng in Petroleum
Engineering 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 +44 (0) 20
Jon Fitzpatrick 3037 2000
Stockdale 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 830 9700
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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