San Leon Says Poland Shale Well Results Encouraging

Reuters

LONDON, Nov 26 (Reuters) - Poland-focused shale explorer San Leon Energy said on Tuesday results from one of its test wells had been much better than expected, an important boost for the country's shale ambitions.

San Leon said the hydraulic fracturing - fracking - of the Lewino-1G2 well in Poland's northern Baltic Basin had been successful. A prolonged flow test to quantify the flow rate of the gas and the well's ultimate potential now needs to be done.

"The behaviour of the well during these fracture treatments and throughout the subsequent initial clean-up period has far exceeded expectations," San Leon Chairman Oisin Fanning said in the statement.

Shares in the group were up 2.3 percent.

Poland has long been regarded as Europe's best shale prospect, but optimism faded earlier this year after Marathon Oil, Talisman Energy and Exxon Mobil pulled their exploration projects.

Copyright 2017 Thomson Reuters. Click for Restrictions.

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