San Leon Energy PLC --- Schiefergas in Polen und mehr (Seite 7)

[texas2]

Antwort auf Beitrag Nr.: 45.945.044 von texas2 am 29.11.13 09:37:29

http://www.cnbc.com/id/101220363

[texas2]

dh bis Anfang 2014 wird SLE den well test an der Lenowo 1 durchgeführt haben. Dann wissen wir, ob mit dieser Bohrung eine Gasprodktionsrate überhaupt erreichbar, die eine wirtschaftliche Inproduktionsnahme erlauben könnte
Wenn damit der Code für das Gasfeld Lenowo geknackt wäre, würde man das Feld abbohren und wenn diese Bohrungen ebenfalls gute Testraten zeigen kann das Feld in Betrieb genommen werden. Bis dahin wird SLE ,schätze ich, einen Farm In Partner präsentieren der uns das Abbohren etc. finanziert.
Hoffen wir das Beste



San Leon E&E needs month to asses gas flow level at Lewino well - country manager

San Leon, an AIM-listed hydrocarbons exploration and extraction firm, needs a month to appraise shale gas flows from its Lewino well in Poland, but considers flows to date as "promissing," San Leon country manager Witold Weil said at a shale gas conference.

"The well is prospective, but we still don't know what amount of gas we are dealing with," Weil said. "We have to conduct additional tests."

"I think that within a month we will be able to answer the question what will be the flow from the well," he added.

At issue is a Tuesday announcement by San Leon Energy that it had conducted a successful re-fracking of its Lewino-1G2 well in northern Poland and recorded initial gas flows. The fracking results have "far exceeded expectations," San Leon's executive director Oisin Fanning said cited in the firm's statement.

[texas2]

Antwort auf Beitrag Nr.: 45.934.504 von texas2 am 27.11.13 21:17:17

http://s3-us-west-2.amazonaws.com/brr-streamguys/files/SLE/r…

[texas2]

Daumen drücken

San Leon says Poland shale well results encouraging

26 Nov 2013 - 08:13

LONDON, Nov 26 (Reuters) - Poland-focused shale explorer San Leon Energy <SLEN.L> said on Tuesday results from one of its test wells had been much better than expected, an important boost for the country's shale ambitions. San Leon said the hydraulic fracturing - fracking - of the Lewino-1G2 well in Poland's northern Baltic Basin had been successful. A prolonged flow test to quantify the flow rate of the gas and the well's ultimate potential now needs to be done. "The behaviour of the well during these fracture treatments and throughout the subsequent initial clean-up period has far exceeded expectations," San Leon Chairman Oisin Fanning said in the statement. Shares in the group were up 2.3 percent. Poland has long been regarded as Europe's best shale prospect, but optimism faded earlier this year after Marathon Oil <MRO.N>, Talisman Energy <TLM.TO> and Exxon Mobil <XOM.N> pulled their exploration projects. (Reporting by Stephen Eisenhammer; editing by Kate Holton) (([e-mail])([phone])(Reuters Messaging: [e-mail])) Keywords: SAN LEON WELL

[texas2]

Antwort auf Beitrag Nr.: 45.516.857 von texas2 am 25.09.13 20:36:11

iii
Attended the AGM and in general came away with a positive view. Still struggle to believe some of the blatant ramping/deramping posts on the boards, as an example no standing ovation in the AGM, I went to it. I pass on the comments without any judgment as to whether I was being told the truth but after the meeting increased my holding by 15%. Easier to do bullet points and bit short of time so apologies if some a bit random.

Oisin and board made themselves available for discussion/questions before and after meeting for as long as was required.
Cash would have run out by Xmas, at face value VERY pleased with Turkey deal. Several additional global funds involved in part of the placing. Announced after egm. Company changing deal.
Turkey offers many quick fixes in a very supportive system. They expect to not only meet but surpass production expectation. Pipeline should be finished ahead of schedule.
Lowly valued on only one license. 16 licenses involved there is potential for tremendous upside
Alpay is a drilling company with no money. Oisin said some of the reserves that have been proven have not been verified by competent persons report so were effectively free. Additional reserves will be verified as quickly as possible in the coming weeks.
Turkey game changer in that company would be cash positive next year I think he said from May.
After presentation I questioned Oisin repeatedly on further funding/dilution next year and beyond as to me the cash burn this year was very high and 2014 not completely covered by placing. He was adamant that Turkey would outperform and provide the company with all the cash it needed. He stated that he was a shareholder to and there would be no further shareholder dilution. I pass on what he said without comment.

Poland commercial production was a when not an if. Anyone who suggested otherwise didn't understand the industry. This is year 3 of 3-5 year plan.
Buggenhagen still very involved spending approx 80% of his time in consultancy work for San Leon.
Complete data sharing except for state run of companies involved in Poland.
No one has left Baltic Basin, even majors who have pulled out of Poland still have representatives around Data rooms.
Poland has found gas and oil if this was the USA there would be hundreds/thousands of rigs already drilled.
Momentum is at last beginning to build
Rogity 1 secondary target found oil.
UOS focusing on Europe and offering equipment and expertise at very large discounts
Poland 'conventional' legislation complete nightmare stuck in ex communist bureaucracy 6-18 months to get permission for anything.
When Poland is cracked Spain will follow.
Sector valuation remains ridiculous institutions still think sentiment change 6-12 months away though selective buying has begun.
Unfortunately Siciny2 fracking by Haliburton will be corporate decision and though their engineers view is positive no decision yet.
Hopeful of success from this weeks drilling.

Morocco cant think of anything to add to AGM presentation on website but farm out deals always on considerably better terms when two or more involved. Stating the obvious!

Albania was not in near term catalysts in presentation so I asked the obvious question as to why not. Very prospective but very high pressure. Shallow water helps a little but two rigs required at approx. 100 million cost. Two majors/super majors still involved but no decision expected in the near future. Morocco flavor of the month at the moment hopefully Albania at some point will be same. Extension agreement was important.

Joel Jones head of engineering who presented very well took the time to answer questions and we shared taxi on way back to airport. He seemed a vey genuine guy excited by the numerous prospects of the San Leon portfolio. Turkey was completely different to Poland and a very straight forward opportunity which suited his background. Straightforward basic work would lead to a material increase in produc

[texas2]

Jetzt kauft SLE noch mehr Konzessionen!

San Leon Acquires 16 Licenses in TurkeySeptember 25, 2013Region - North Sea / EuropeSeptember 25, 2013Region - North Sea / Europe
San Leon Energy has entered into an agreement to acquire 75% of the issued share capital of Alpay Enerji from Server Fatih Alpay for $4 million. Under the transaction, San Leon will receive interest in seven licenses from Alpay Enerji and nine licenses from ARAR Petrol in Turkey. Server Fatih Alpay has controlling interest in Alpay Enerji and ARAR Petrol.
Alpay Enerji assets overview
Holds a 100% interest in seven conventional licenses in Turkey
Licenses cover 842,094 acres
Existing licenses have gross 2P gas reserves of 46.6 Bcf and Contingent resources of 140.7 Bcf
Nine additional conventional licenses in Turkey, currently held by ARAR Petrol, will be transferred to Alpay Enerji
Post-transaction ownership: San Leon (75%), Server Fatih Alpay (20%) and Niche Group (5%).

[texas2]

Antwort auf Beitrag Nr.: 44.998.415 von texas2 am 07.07.13 15:45:55

http://issuu.com/cleantechpoland/docs/sgig4

[texas2]

Antwort auf Beitrag Nr.: 44.998.217 von texas2 am 07.07.13 14:30:58

Fri Jul 5, 2013 10:25am EDT

* Executives say firms may quit unless gas flows soon

* They say red tape, tough geology hold up drilling

* Reform plans do not go far enough - industry lobby

By Agnieszka Barteczko

WARSAW, July 5 (Reuters) - Hopes that Poland could lead a U.S.-style shale gas boom in Europe are fading fast as energy companies say red tape is delaying commercial output and Warsaw's draft proposals to cut bureaucracy do not go nearly far enough.

The firms say there is plenty of gas but its exploitation is frustrated by difficult geology and onerous, unclear regulation.

Prospects darkened this year after Marathon Oil and Talisman Energy followed Exxon Mobil in pulling out of Poland, which was once seen as Europe's best shale prospect with substantial reserves and a friendly government.

These companies may not be the last, unless one or more of the 46 exploration wells drilled so far starts producing commercial-scale quantities of gas.

The government, hoping shale gas will deliver Poland from reliance on energy imports from Russia, is proposing new legislation to ease conditions for investors.

"If the law is adopted in its current shape, plus two or three more unsuccessful wells, and other investors will leave," said an official with a foreign firm prospecting for shale gas, expressing views echoed by several other executives.

"The situation is very bad, everyone is discouraged," said a second company official, who also asked not to be identified.

Global players remaining in Poland's shale sector include Chevron, ConocoPhillips and Eni.

Under pressure to retain investors, the deputy environment minister and chief geologist, Piotr Wozniak, has drafted proposals for new rules that are awaiting cabinet approval.

These include allowing firms to extend exploration licenses by two years if needed, instead of the previous proposal of one year; letting them convert exploration permits into production permits without having to bid again; and making it easier to lease state-owned land on and around drilling sites.

But a document from the main lobby group for oil and gas firms operating in Poland, seen by Reuters, said that while some changes were positive, most reforms it had sought were omitted.

The Polish Exploration and Production Industry Organization document said in particular that the government could still use loopholes to force firms to re-tender for production permits.

It was unhappy with a requirement that a new Polish state-owned operator, NOKE, should participate in all concessions and it wanted exploration to be extendable beyond two years.

The lobby group also said penalties for falling behind work schedules were too harsh under the proposals.

"The new proposal is better than the previous ones, but this is not a remedy to the sector's ailments," said Witold Weil, country manager at San Leon Energy, which has licences in Poland. "There are many proposals which were not included in the draft".

He added that San Leon Energy is staying in Poland, but would put some licences under review. This month it announced it was reducing its role in one Polish shale gas field, and bringing in a partner, Wisent Oil and Gas.

Asked about its plans, a Chevron spokeswoman said the company was committed to Poland. An Eni spokesman declined to comment. A ConocoPhillips media representative in Warsaw did not respond to a request for comment.

If shale gas fails to live up to the government's ambitions, the chief beneficiary will be Russia's Gazprom, which will continue to be Poland's biggest gas supplier.

FUNERAL OF SHALE PREMATURE

"The funeral of shale gas in Poland is premature," said Jerzy Nawrocki, the head of the Polish Geological Institute. "However, politicians' optimistic forecasts on fast explo

[texas2]

Antwort auf Beitrag Nr.: 44.998.169 von texas2 am 07.07.13 14:09:01

der kumpel von krauze ist über aul zu sle gekommen

Our new best friend Wisent is partly owned by PetrolInvest
http://www.reuters.com/article/2013/06/21/poland-shale-idUSL…

which is partly owned by Ryszard Krauze
http://www.petrolinvest.pl/en/akcjonariat.html

who is a Polish billionaire
http://pl.wikipedia.org/wiki/Ryszard_Krauze

seen here having a cosy moment with our fellow shareholder, Poland's richest man Jan Kulczyk:


http://www.google.com/imgres?imgurl=http://bi.gazeta.pl/im/d…

...the circle is complete!

[texas2]

Antwort auf Beitrag Nr.: 44.998.051 von texas2 am 07.07.13 13:34:19

Europe’s Shales: Understanding the Value Proposition

Source: Silurian Hallwood
Chesapeake Energy ended up buying William Marble’s company for about half a billion dollars. The prospects for similar success in Poland had pulled him out of retirement.

In a panel discussion dedicated to “Shale Acreage and Joint Ventures” at the Unconventional Gas and Oil Summit in Warsaw, Poland, Mr. Marble, Shale Exploration Advisor, Texas, Silurian Hallwood recalled his experiences with shale acreage and joint ventures in the Barnett shale in Texas, where he significantly raised the output of the company’s wells in basin.

He explained: “We are the marriage of a Polish company, Silurian and a US firm called Hallwood. Through this marriage we ended up with about 1 million acres of concessions in Poland and went in and raised GBP 13 million, which ended up being close to GBP 19 million. We have a long history of experience in tight gas and shale in all of North America; we’ve worked in seven different shale basins in North America.

“In 2001we started in Johnson County, Texas, where there had never been any production at all. So if anyone wants a baseline, simply look at Johnson County. There was zero production, 67 dry holes before Hallwood got there. Our first well was a successful discovery and after 71 wells we had one dry hole – it was picked by a geologist. And we turned $6 million dollars of investor capital into $542 million and went on in our life very happily,” he recalled.

Hallwood then went to Canada and later established field rules in Texas, Arkansas, and in Alberta. “Field rules can be changed,” he said. “Shale is not that different than conventional. There’s a lot of mystique about it, but it’s just a word.

He said the company’s history was long in tight sands and shales and was varied.

Of activity in Poland, Mr. Marble said: “We’re now waiting on some concession conversion paperwork and when we get that we will drill three wells. Our plans are to drill the first well and eight days later conduct a multi stage fracc. We expect to drill three wells in 75 days, sometime in the second or third quarter of this year.”

San Leon Energy’s Director of Exploration John Buggenhagen began by saying that his company’s strategy was to build a diversified portfolio of land He recalled, “We used to have a saying when I worked on the North Slope of Alaska: ‘no lease, no grease.’ You can have the greatest idea in the world, but if you don’t have access to the land you’ll never make any money from it.

“So the first step we did was to come into places like Poland and then did a transaction with Talisman Energy who’s farmed in to our acreage and is helping us through their investment and expertise, monetize this asset. That’s the key, because we realized what we’re good at and what we’re not good at. We didn’t stop there, we wanted to continue to build the land portfolio, because we’re not naïve to believe that every concession will work,” explained Mr. Buggenhagen.

He said that if one looked at a map of San Leon’s concessions their blocks were spread all over the place. “We did that on purpose, because to be honest with you, being the geologist/geophysicist I didn’t really know, given he limited amount of data that was out there, where we wanted to be.”

He spoke of San Leon’s acquisition of Realm Energy.

“It was a great opportunity for us to very quickly pick up three blocks in Poland, doubling our position in the Baltic; we instantly added nearly 2 million acres in Spain; and we have tremendous applications in France.”

Buggenhagen said it was becoming increasingly difficult to execute the company’s investment strategy, because investment was required to do that. “Being a public company that requires access to public capital,” he said.

He predicted that there would be a phase of such consolidation transactions across Europe.

“The problem we face is creating a positive investment environment that will encourage not only market or private investment, but that will encourage companies to continue to invest,” he said.

“If people really thought we were going to drill 12 wells and prove Polish shale gas, they were very naïve investors.”

William Marble recalled his capital raising experience to delegates, that Polish shale was valid.

“Unfortunately,” he said, “there’s a wide chasm between those that have ‘been there, done that’ and have a practical knowledge of what it takes to make a shale play or tight reservoir successful and those that live in a world of theory.

“The investment community in London, unfortunately, is mostly the latter,” continued Marble. “They read press releases, they read news reports. Anyone that thinks 12 wells is enough to leave an entire country is fooling themselves. The press seldom gets things right. We need a reality check on the investment community, but getting the reality into the portfolio decision making process is very difficult. They want to see ‘results.’”

He said that when Hallwood had first raised money to drill in the Barnett there were papers written saying why the company couldn’t drill there. “And in 43 months we drilled 71 wells,” he quipped.

“That’s going to be a problem in Poland. Our business plan now is to drill three wells this year, 12-14 next year, assuming we are sure in our minds – no one else’s mind - and then 40 wells the year after. We have the rigs available, the fraccing equipment available, pipe, technology… We’ve done it before,” he said.

He added that there were one or two obstacles to doing that in Poland.

According to Mr. Marble, the advantage that Europe had was that it didn’t need to repeat the first decade of Barnett shale experience by Mitchell Energy. “You can start in 2001, when we started in the Barnett and within 12 months we built our own infrastructure; 6-8 months after that, our typical well was 5 million/day. So the learning curve can be very short.

“If given the opportunity, people who have hands-on experience have shown that the learning curve can be almost be vertical in a matter of just a few wells, not a decade or more. We as operators need the opportunity to do what we know how to do. The investment community needs to understand that, if the first couple of wells show there’s gas there, or oil, or hydrocarbons, a few more wells will actually have some commercial flow rates,” he said.

John Buggenhagen reported that in December 2010, San Leon had raised $100 million on the open markets. “We were able to convince Soros Fund to contribute 50%, and our second largest investor is Blackrock. I’m obviously not speaking for those investor groups, but they understand the value proposition; they’re in it for the long term.

“If people want to continue to make 3-5% on their money, then we can probably continue, but investors are looking for 10, 20 and 100 times on their money, and that’s the difference between North American investors and what I see in London, where I spend more than half of my time educating people about where the value proposition is. You can’t get in at the end and get the return on your investment,” said Buggenhagen.

He said that land prices would spike before the big flow rate came.

“As soon as somebody proves we can extract gas from these shales, you will see a consolidation just like we’ve seen in North America. Who’s it going to be? In my opinion, it will be the North American companies.”