San Leon Receives Approval for Expanded Footprint
San Leon Energy has announced that its wholly owned Polish subsidiaries Liesa Energy Sp. z o.o. and San Leon Poland Sp. z.o.o. have received government approval for the acquisition of 100% interests in three unconventional gas concessions located in the southern area of the Fore Sudetic Monocline of the Permian Basin, onshore western Poland.
Liesa Energy has received approval from the Ministry of Environment for the transfer of the two Polish shale concessions; 20/2009/p Winsko and 39/2009/p Rawicz, from Mazovia Energy.
San Leon's wholly owned Polish subsidiary Gora Energy, including the 30/2088p Gora Concession, from Mazovia Energy.
The 30/2008/p Gora, 20/2009/p Winsko, and 39/2009/p Rawicz Concessions, totaling 1,314 sqkm, are located in the southern area of the Fore Sudetic Monocline of the Permian Basin, onshore western Poland. These Concessions include portions of license blocks 245, 265, 266, 267, and 268.
The Company now holds 100% of the 30/2088p Gora, 39/2009/p Rawicz, and 20/2009/p Winsko Concessions for oil and gas reconnaissance and exploration. This includes the transfer of the associated mining usufruct agreements.
San Leon said the acquisitions, which it had announced on November 15, 2010, expand its position in western Poland to 3,560 square kilometers from 2,245 sqkm. It said the acquisitions consolidate its position as a leading player in unconventional gas in Poland.
OisÃn Fanning, Chairman of San Leon commented:
"These acquisitions cement our position as a leading player in unconventional gas in Poland. We believe that this unexplored deeper Carboniferous play, which is prevalent across these Concessions has significant potential. This latest achievement is further testament to the work and the relationships that our own technical team on the ground in Poland have achieved and built in the two years that they have been there."
Source: San Leon Energy