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San Leon Energy’s Poland frack “far exceeded expectations”

Last updated: 01:27 26 Nov 2013 EST, First published: 02:27 26 Nov 2013 EST

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San Leon Energy’s (LON:SLE) latest fracking programme in Poland has been completed, and has far exceeded expectations, according to executive chairman Oisin Fanning.

The Lewino-1G2 well, on the Gdansk W Concession, in Poland's northern Baltic Basin, was re-fracked in two intervals.

Gas was flared continually for the duration of the initial clear up period, San Leon said.

In the upper zone the frack is believed to have achieved all technical targets; the company said the re-designed programme had an improved ability to recover treatment water that the prior programme in July.

Next, a flow testing programme will take place.

"The behaviour of the well during these fracture treatments and throughout the subsequent initial clean-up period has far exceeded expectations, and we look forward to finishing the clean-up after running the well completion, and to the subsequent flow testing," Fanning said.

The fracking programme was carried out in conjunction with United Oilfield Services (UOS), as well as consultants Apex and Fenix.

On Friday, investors were buoyed by comments from UOS chief executive Dennis McKee, in a CNBC interview, that in his opinion, a commercial shale discovery in Poland is likely to come in "a matter of months, if not weeks".

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