San Leon Energy plc announce Kęty Well Update
San Leon, the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces that the Kęty exploration well has reached a total depth of 705m MDBRT (measured depth below rotary table). The gas encountered is considered uncommercial following testing, and the well will be plugged and abandoned.
The Kęty well, which is on the Bestwina concession in Karpaty, Poland, was targeting gas in the Miocene sandstone. It is apparent that several sandstones exist within the target depths, but an overlying fault appears to have compromised the seal, resulting in low gas saturations. Open-hole well testing was performed on three intervals, with only minor gas production. The cost of open-hole testing was around €150,000 gross.
The rig will now move to the second well in the three well drilling programme, the Gierałtowice prospect on the Bielsko-Biała concession in Karpaty, targeting 4 Bcf of mid-case recoverable gas in two target reservoirs – the Upper Carboniferous sandstone being the primary target with the Lower Carboniferous limestone as a secondary target.
San Leon Energy holds 60% and is operator of both the concessions, with PGNiG holding the remaining 40%.
Oisin Fanning, San Leon Executive Chairman, commented:
“The sub-commercial gas in the Kęty well is disappointing, although the presence of sandstones – the potential absence of which was a major pre-drill risk – is encouraging for other future wells in the area. We look forward to the results of the remaining wells in the drilling programme, whose chances of success will be unaffected by the Kęty well.”
Source: San Leon