San Leon Energy Completes Third Polish Shale Gas Well
07/17/2012| 03:10am US/Eastern
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By Iain Packham
LONDON--Poland-focused oil company San Leon Energy PLC (>> San Leon Energy Plc) said Tuesday it has successfully completed its third shale gas exploration well in Poland's Baltic Basin, and having encountered gas, plans six months' evaluating the cores and logs.
"We are excited by the successful drilling and significant data gathering at the Szymkowo-1 well. The results continue to show the regional variability of the basin and are proof that the deeper parts of the basin are gas charged. This is yet another milestone for San Leon and our successful partnership with Talisman Energy as we plan to move forward towards the next stage of our cooperation including horizontal drilling and potential testing in 2013," Chairman Oisin Fanning said.
Talisman Energy Inc. (>> Talisman Energy Inc.) operated the Szymkowo-1 well on the Szczawno Concession in Poland, drilling it to a depth of 4,551 meters and encountered more than 600 meters of gas. 315 meters of continuous core were taken in the well to evaluate the rock properties.
San Leon expects Talisman to drill and test the first horizontal well in the upcoming drilling program in the first or second quarter of 2013 as a continuation of its commitment to earn a larger stake of the concession.
Shares closed Monday at 10.6 pence.
Write to Iain Packham at iain.packham@dowjones.com
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