News

Morocco Well Testing

20 October 2014

San Leon, the AIM listed company focused on oil and gas exploration in Europe and North Africa, confirms that the SM-1 well in the Sidi Moussa block offshore Morocco has reached a total depth of 2,825mMDBRT (measured depth below rotary table) and encountered oil during drilling operations. Preparations are underway to perform cased hole testing.

San Leon holds a 10% net working interest in the Sidi Moussa block. Total well testing costs are expected to be approximately $22m (net paying interest $3m to San Leon).

Oisin Fanning, San Leon Executive Chairman, commented:

“Testing the SM-1 well aims to evaluate the structure and its hydrocarbon potential as much as possible at this stage of early exploration, and we look forward to updating the market with the results once these are available.”

Qualified person

Joel Price, who has reviewed this update, has 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 from Cambridge University, an MEng 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.

For further information contact:

San Leon Energy plc
Oisin Fanning, Executive Chairman
+353 1291 6292

finnCap Ltd
Corporate Finance
Matt Goode
Christopher Raggett
Corporate Broking
Elizabeth Johnson
Joanna Weaving
+44 (0) 20 7220 0500

Fox-Davies Capital Limited
Daniel Fox-Davies
Oliver Stansfield
Jonathan Evans
+44 (0) 20 3463 5000

Macquarie Capital (Europe) Limited
+44 (0) 20 3037 2000
Jon Fitzpatrick
Nicholas Harland

Westhouse Securities Ltd
Nominated Adviser
Richard Johnson
Antonio Bossi
+44 (0) 20 7601 6100

Vigo Communications
Financial Public Relations
Chris McMahon
+44 (0) 20 7016 9573

Share

  • Share
  • Email
  • Print
  • Twitter
  • linkedIn

Subscribe to our news

Join our network: