San Leon Energy Gets Stake In Poland’s Baltic Basin

Bought 74% WI in Polish assets, gaining additional 468,512 net acres in two prospective basins.

San Leon is pleased to announce the purchase of 75% working interests of certain Polish assets held by Hutton Energy Plc with a view to jointly developing the assets.

This acquisition further expands San Leon's Polish unconventional gas acreage by an additional 468,512 net acres in two highly prospective basins. The addition of these new concessions increases San Leon's position in the Baltic Basin to 900,255 net acres; and in the Carboniferous Basin to 1,588,147 net acres.

Hutton's 25% working interest would be reduced by 5% if it did not participate in the first exploration well on each concession and would be further reduced by an additional 5% if it did not participate in the second exploration well on each concession.

Oisin Fanning, Chairman of San Leon, commented, "We are very excited to continue to expand and diversify our prospective acreage position in Poland. We see this partnership with Hutton Energy Plc as being a very positive one in that they also bring significant north American unconventional gas experience to the venture. Our focus on the huge upside potential of the Baltic and Carboniferous Basins follows the company's strategy of building a portfolio of high potential assets. We see this agreement with Hutton as a real positive for San Leon as the addition of this acreage gives us an unprecedented acreage position in Poland."