LONDON (ShareCast) - (ShareCast News) - Oil and gas exploration firm San Leon Energy was one step closer to production at a Polish site on Thursday, announcing the completion of well testing at the Rawicz-15 well.
The AIM-traded company said the Rawicz-15 development well on the 286 square mile Rawicz concession in Poland's southern Permian Basin was stimulated and flowed at an average rate of more than 3.6 million cubic feet per day over the main flow period of several days.

It said the well was now shut in, and the pressure buildup information would be analysed, interpreted and used to update the reservoir model.

The Rawicz project was operated by Palomar Natural Resources, which held a 65% participating interest in the concession, with the completion of testing meaning the interest was now fully earned.

Future work would be funded according to participating interests, with San Leon holding a 35% participating interest in the concession.

"Field development continues to progress and Palomar is finalising a full development plan to be submitted to the Polish government for approval," San Leon's board said in a statement.

"Pipeline, facility and final project engineering is nearly complete, while all required permits, rights-of-way and regulatory approvals are being obtained.

"Gas off-take agreements are being negotiated with several groups," it added.

San Leon said the operator's development plan now envisaged at least three wells available for first production, including Rawicz-12 and Rawicz-15, in early 2017.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE