Ireland: San Leon seeks partners on offshore blocks

By OGJ editors
HOUSTON, June 23
– San Leon Energy PLC is appraising its Atlantic margin assets off Ireland following acquisition of Island Oil & Gas PLC and is seeking partners.

San Leon is considering several options for data acquisition and analysis of South Porcupine FEL 3/08 license including 2D and 3D seismic and a controlled source electromagnetic survey with a view to seeking a partner.

San Leon shot 250 sq km of 3D seismic on the North Porcupine FEL 1/04 license in May 2011. The offshore survey was designed to evaluate the highly prospective C1 lead. The company expects to finalize a data processing contractor or contractors within weeks. Seismic processing is expected to be complete early in the 2011 fourth quarter.

The company continues to interpret the 300 sq km Slyne FEL 4/06 license 3D survey. Delays in processing and interpretation are the result of complex structural issues and surface volcanics that have made imaging difficult in some areas. The initial interpretation is encouraging, and the company will open a data room in August-September 2011.

Following assignment of OMV AG’s 50% interest in Rockall FEL 3/05 license to San Leon in March 2011, San Leon has had insufficient time to secure a seismic vessel for summer 2011 and expects to seek a license extension.

A 220 sq km 3D seismic survey is under way and expected to be finished by the end of June on the Barryroe 08/01 license option in the north Celtic Sea.



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