San Leon Energy sees 'continuous gas shows' in Poland

San Leon Energy, the oil and gas company currently exploring in Poland, says drilling at one of its sites has encountered "continuous gas shows".

The Siciny-2 well was dug to a depth of 3,520 metres, encountering five prospective "intervals", two of which were previously unidentified.

The company says it will take around three to four months to evaluate the results of the dig "in preparation for future production testing".

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Oisin Fanning, Chairman of San Leon commented:

"In total we encountered more than 500 meters of potential reservoir...The complex nature of the Carboniferous source rock, including natural fracturing, shows real promise for gas production."

San Leon shares have fallen 63% over the last 12 months.

BS