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San Leon Energy Plc - Rawicz-15 development well now complete

Published: 13:05 07 Apr 2016 BST

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First production is now expected in early 2017.

San Leon Energy Plc (LON:SLE) told investors that the Rawicz-15 development well has now completed well testing.

The well, on the Rawicz concession in Poland's southern Permian basin, was stimulated and flowed at an average rate in excess of 3.6mln cubic feet per day during the programme’s main flow period which lasted for ‘several’ days.

Rawicz-15 is now shut-in and the pressure build-up information will be analysed, the company said.

Palomar Natural Resources, the operator, and with the completion of the Rawicz-15 well the company has now sealed its full acquisition of its 65% interest in the concession.

Further work at Rawicz will now be funded according to participating interests - i.e. Palomar will pay 65% of the cost, and San Leon will be responsible for 35%.

Field development continues to progress, San Leon highlighted, and Palomar is now finalising a full development plan which would be submitted to the Polish government for approval.

The plan now envisages that at least three wells available for first production, including Rawicz 12 and 15.

First production is now expected in early 2017.

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