San Leon "More Than Encouraged" on Siciny-2 Results
San Leon Energy has said that it has encountered very positive results on its Siciny-2 well following technical evaluation, results which it has found very encouraging.
The company announced today that it had completed the initial evaluation phase of core and petrophysical data gathered on the well. The company collected more than 265 metres of continuous core across three prospective Carboniferous intervals in the Siciny-2 well. Evaluation of this core has led San Leon to identify five prospective zones for unconventional gas accumulations.
Within the five identified prospective zones, San Leon identified large gas shows. In zone one, which is mostly positive for shale gas, the company has identified 163 billion cubic feet of free gas. Total gas for this interval is estimated at 193 billion cubic feet. In zone two, which is also mostly positive for dry gas, an estimated 64 billion cubic feet of free gas has been identified with total gas reserves estimated at 97 billion cubic feet.
The Siciny-2 well, located in the SW Carboniferous Basin in Poland, was drilled earlier this year to a depth of 3,520 metres. The biggest gas show, following evaluation, was seen at a depth of between 3,200 to 3,250 metres.
The second gas interval, which showed potential for 64 billion cubic feet of free gas, was seen at a depth of between 2,870 and 3,110 metres.
The company is now undertaking a 3D seismic survey across a 220km area over the well and its surrounding area to further its information. The survey is being undertaken by San Leon subsidiary NovaSeis, with results expected for August.
CEO of San Leon, Oisin Fanning said the company was excited and encouraged by the results.
"We are more than encouraged by the potential of the Carboniferous to be a significant gas producer in Poland," he said. "The initial results of the Siciny-2 well are very exciting and we plan to move forward in testing several of the prospective intervals in the well in the near future. This was the first modern well to test the Carboniferous potential of the basin.
"It is a proven source rock interval that has generated a lot of gas with significant upside in thick tight sands in the basin. The Siciny-2 well has proven that there is very real potential in the play. We plan flow testing in 2012 with continued drilling in 2013 across our extensive position in this play, including the new concessions we recently acquired as part of our joint venture with Hutton Energy.'"