San Leon and its Polish subsidiary Liesa Energy have signed a binding agreement with Mazovia Energy Resources to acquire a 100% interest in three additional unconventional gas concessions in Poland’s southern Permian Basin.
The Polish shale concessions, adjacent to San Leon’s existing Nowa Sol and Wschowa Concessions, will expand San Leon's position in western Poland from 2,245 sq km to 3,560 sq km (879,695 acres).
The 30/2008/p Gora, 20/2009/p Winsko, and 39/2009/p Rawicz Concessions totaling 1,314 sq km, are located in the southern area of the Fore Sudetic Monocline of the Permian Basin, onshore western Poland. These Concessions include portions of license blocks 245, 265, 266, 267, and 268.
The Concessions are valid for up to 5 years.
"With this acquisition San Leon will be the leading independent unconventional gas player in Poland; a position that has been built up in just two years,” said Osisin Fanning, chairman of San Leon. “This is a further progression of San Leon's commitment to pioneer new exploration plays in Poland. We believe that the unexplored deeper Carboniferous play in this area has significant potential and further diversifies San Leon's exciting unconventional gas portfolio."
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