20th Dec 2013 12:02
20 December 2013
San Leon Energy plc
("San Leon" or the "Company")
Morocco Update
San Leon Energy Plc ("San Leon"), the AIM listed company focused on oil and gas exploration in Europe and North Africa, notes today's announcement by Cairn Energy ("Cairn") regarding the proposed plugging and abandoning of the FD-1 wildcat exploration well on the F prospect in the Foum Draa block, offshore Morocco.
Cairn is the Operator of the block and holds a 50% net operated interest, San Leon holds 14.17%, Serica holds 8.33% and Longreach holds 2.5%. ONYHM, the Moroccan National Bureau of Petroleum and Mines continues to hold 25%.
Oisin Fanning, Chairman of San Leon, commented:
"While we are disappointed not to have found reservoir-quality rock in the target interval, we are encouraged by the presence of hydrocarbons in the well, which proves that a working hydrocarbon system is in place. We shall now evaluate the data with a view to deciding on next steps for our equity share in the licence. We now look forward to the drilling of our next offshore Morocco well, on the Sidi Moussa prospect, by its operator Genel."
Enquiries:
San Leon Energy plc | +353 1291 6292 | |
Oisin Fanning, Executive Chairman | ||
Fox-Davies Capital Limited | +44 (0) 20 3463 5000 | |
Daniel Fox-Davies | ||
Oliver Stansfield | ||
Jonathan Evans | ||
Macquarie Capital (Europe) Limited | +44 (0) 20 3037 2000 | |
Steve Baldwin | ||
Nicholas Harland | ||
FirstEnergy Capital LLP | +44 (0) 20 7448 0200 | |
Hugh R. Sanderson | ||
Jonathan Wright | ||
David van Erp | ||
Westhouse Securities Ltd | Nominated Adviser | +44 (0) 20 7601 6000 |
Richard Johnson | ||
Antonio Bossi | ||
Vigo Communications | Financial Public Relations | +44 (0) 20 7016 9573 |
Patrick d'Ancona | ||
Chris McMahon | ||
College Hill | Investor Relations Adviser | +44 (0) 20 7457 2020 |
David Simonson | ||
| Alexandra Roper | |
Plunkett Public Relations | Sharon Plunkett | +353 (0) 1 284 4414 |
Jennie Cotter | +353 (0) 87 826 0833 |
Qualified personJoel 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 the Chief Operating Officer for San Leon Energy and is based in San Leon's London office.
www.sanleonenergy.com
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