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San Leon Energy Plc Announces Strategic Relationship With Halliburton Company Germany GmBH Sp. Z.o.o


Monday, 18 Mar 2013 03:00am EDT 

San Leon Energy Plc announced that it has signed a Memorandum of Understanding (MOU) with Halliburton Company Germany GmBH Sp. Z.o.o. (Halliburton) to develop a strategic relationship to jointly explore and develop the Carboniferous unconventional gas potential in San Leon's Wschowa, Gora, and Rawicz Concessions (the Concessions) in Poland. San Leon will continue to serve as operator and manage the operations on the Concessions. All activities covered under this relationship will be limited to the Carboniferous and deeper sections. For clarity, the shallower Permian Rotliegendes and Main Dolomite sections are excluded from this relationship. Under the MOU, it is anticipated that Halliburton will perform and fund a Diagnostic Fracture Injection Test ("DFIT") for the Siciny-2 well in Q2 2013. Upon completion of the DFIT, Halliburton will have the option to perform and fund a minimum two-stage vertical hydraulic fracture in the Siciny-2 well with San Leon paying 50% of the wholesale proppant (fracturing fluid) cost to Halliburton. This procedure is also planned for Q2 2013. San Leon will fund other third party costs on the well-site, such as security and waste disposal, in connection with the DFIT and fracture. 

Company Quote

3.16
-0.12 -3.66%
17 Apr 2014