San Leon Subsidiary Concludes Seismic Acquisition in Poland
San Leon Energy's Polish subsidiary Liesa has completed its 168 sq. km 3D seismic acquisition program over the Nowa Sol license in the Southern Permian Basin of Poland. The survey was acquired by Acoustic Geophysical Services ("Acoustic") from Hungary. Permitting and land access agreements were managed by TDE Service Polska ("TDE"). Completion of the survey marks the first time that foreign contractors have carried out a seismic acquisition program in Poland.
The survey was designed to image the conventional oil and gas potential of the proven Permian sediments in the Nowa Sol area as well as to look at the deeper potential of the Carboniferous source rocks.
The survey will be processed by two independent processing companies, one in the US and one in Poland. Final processed results are expected in September followed by detailed interpretation by the Company, with plans to commence a two to three well drilling campaign by the end of 2011.
Oisin Fanning Chairman of San Leon Energy commented, "The completion of the Nowa Sol 3D is another step forward in our drilling plans for Poland. The lower risk oil potential of the area is an important part of our short term strategy to organically grow San Leon in the short term while we continue to explore for the significant longer term gas resources in our portfolio. The safe and successful completion of the Nowa Sol 3D is further evidence of San Leon's operational capabilities.
We believe that the Carboniferous section below the proven Permian sediments, an approximate 880,000-acre license position, also offers the potential to be a large unconventional gas play in Europe and we look forward to drilling this later in the year."
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