Award of Braniewo Licence in Poland

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Award of Braniewo Licence in Poland

 
• San Leon has  been awarded 1042.69 km2 Braniewo License in the Baltic Basin onshore northern Poland including portions of licence blocks 52, 72, 73, 92 and 93

San  Leon is pleased to announce that its wholly owned Polish subsidiary Oculis  Investments Sp. z o.o. (“Oculis”) has been awarded the Braniewo oil and gas  exploration licence in the Baltic Basin onshore northern Poland.

The  vast majority of the onshore area of the Baltic basin is under licence or under  application by numerous domestic and international players. This award  therefore gives San Leon access to a highly desirable region, during a period  of considerable competition.

The  concession totalling 1042.69 km2 is located in the Baltic  Basin onshore northern Poland  including portions of license blocks 52, 72, 73, 92 and 93.

The  License is valid for up to 5 years and covers a work programme which includes geological  studies, seismic acquisition and a one well drilling obligation. If a discovery  is made the term extends to 30 years with an additional 30 years, if required.

The  primary reason for applying for this licence is the high potential of the  Paleozoic shales that could lead to a commercial shale gas development akin to  the Barnett Shale in the USA.  In addition, San Leon believes that while testing  the shale gas potential of the area there are conventional oil targets above  and below the shale intervals further reducing the risk of exploration.

 Philip Thompson, CEO  of San Leon commented

“We  are excited to expand our portfolio in Poland  into the underexplored Baltic   Basin.  There is a potentially significant  unconventional gas play in the Palaeozoic shales that we believe will unlock an  overlooked high potential play in the wider region.  We also believe there is significant  potential that has been overlooked in several conventional targets on the  licence.”

 1 July 2009

For further  information contact:

San Leon Energy Plc                                       Tel: +  353 1291 6292
  Oisin  Fanning, Chairman
  Philip  Thompson, Chief Executive Officer

Arbuthnot Securities                                       Tel: +44  (0) 20 7012 2000
  Nick  Tulloch
  Andrew Fairclough

Fox Davis Capital                                           Tel:  +44 (0) 20 7936 5230
  Jason  Bahnsen
  Oliver  Stanfield

College Hill  Associates                                   Tel:  +44 (0) 207 457 2020
  Paddy  Blewer
  Nick  Elwes

Qualified person
Philip Thompson has over  twenty five years experience in the oil & gas industry. He has an M.Sc. in  Geophysics from Southern Methodist University and a B.Sc. in Geophysics from Texas A&M   University.

• Click to download the attached file(s):
• RNS_01-07-09_-_San_Leon_Energy_-_Braniewo_Award.pdf