San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces the spud of the Rawicz-12 appraisal well yesterday on the 742 km2 Rawicz Concession in Poland’s southern Permian Basin.
The well, which is operated by Palomar Natural Resources (“PNR”), is targeting the previously-discovered Rawicz gas accumulation in the Permian Rotliegendes sandstones. The well is estimated to take 45 days to reach a total depth of 1,900 meters and is being drilled by Poland’s Exalo Drilling. A full testing program is planned immediately after drilling and completion of the well, assuming positive results.
PNR holds 65% and is operator of the concession, with San Leon holding the remaining 35%.
Oisin Fanning, Chairman of San Leon, commented, “This is a great opportunity for San Leon to establish first gas production in Poland. We are pleased to be working with PNR and are confident in their operational ability. Rawicz is a project that San Leon has worked hard to bring forward over the last three years, and we look forward to updating the market with results in due course.”
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.