San Leon Energy’s progress this year has placed the firm in a ‘strong portfolio position’, its chairman said today.
The oil and gas exploration firm is on track to work on 11 drills in the coming months after seeing success across projects in Europe and North Africa.
During February to July this year its Lewino-1G2 well in Poland has been the company’s most successful vertical shale frac, with planning for a further a horizontal multi-frac well under way. Technical planning for the Genel Energy PLC-operated Sidi Moussa SM-1 well in Morrocco was completed during the same time period despite the company’s revenue dropping by €0.14million when compared with the same six month duration in 2013.
Oisin Fanning, chairman of San Leon said:”We look forward to updating our shareholders on well results, and to the outcome of our continuing transaction activity including the highly promising Gdansk W shale gas asset.”