Morocco Well Testing

RNS Number : 6920U

San Leon Energy PLC

20 October 2014

 



20 October 2014

San Leon Energy plc

("San Leon" or "the Company")

Morocco Well Testing

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	[phone]
finnCap Ltd  Corporate Finance Matt Goode Christopher Raggett Corporate Broking Elizabeth Johnson Joanna Weaving	[phone]
Fox-Davies Capital Limited Daniel Fox-Davies Oliver Stansfield Jonathan Evans	[phone]
Macquarie Capital (Europe) Limited Jon Fitzpatrick Nicholas Harland	[phone]
Westhouse Securities Ltd Nominated Adviser Richard Johnson Antonio Bossi	[phone]
Vigo Communications Financial Public Relations Chris McMahon	[phone]
Plunkett Public Relations Sharon Plunkett	[phone]

www.sanleonenergy.com 

 

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