San Leon Energy Plc. (SLGYF)

[ChitForBrains]

San Leon Energy is pleased to announce that it has spud the Rogity-1 well on its Braniewo S Concession in the Baltic Basin, Poland. The well, which is operated by Talisman Energy Poland, is targeting unconventional shale gas in the Lower Silurian, Ordovician and Upper Cambrian. This is the second well in a three well program in the Baltic Basin, with an additional well to be drilled in the Szczawno Concession in early 2012. The Rogity-1 well will be the easternmost penetration of the Paleozoic section in the Baltic Basin. This area is believed to be less thermally mature and is considered to carry more risk than the western part of the Baltic basin, but the Company believes it has the potential for a more liquids rich production.

Oisin Fanning, Chairman of San Leon, commented:

“Our understanding of the geology of the Paleozoic section in the Baltic Basin is evolving with each well. We are excited to test the eastern potential of the Basin which we believe is in the oil window.”

For further information contact:
San Leon Energy Plc (Oisin Fanning, Executive Chairman) - Tel: + 353 1291 6292
Macquarie Capital (Europe) Limited (Paul Connolly/John Dwyer) - Tel: [phone]
Arbuthnot Securities (Richard Johnson/Antonio Bossi) - Tel: [phone]
College Hill Associates (Nick Elwes) - Tel: [phone]

It was 14 pence on my last post, now 7.88 pence (Black Rock UK sold some shares the own 127 million or 11.69% which gives us an about a billion 86 million shares outstanding. http://www.sanleonenergy.com/sanleon/communications/San_Leon_Energy_Plc.php?ln=en