This is Shares and MoneyAM's new quarterly publication covering the world of Oil, Gas and Mining companies. The latest edition is out today and can be viewed as a page flip or a pdf download at www.mrqonline.co.uk

Features on:

Silver
Copper
Platinum

Companies Featured in this issue:

African Eagle
Ariana Resources
GGG Resources
Ithaca Energy
Ormonde Mining
San Leon Energy

"San Leon"

Joint Venture Focused on Polish Production
Palomar Natural Resources to Develop the Siekierki and Rawicz Gas Fields

Highlights
-- Joint venture agreement signed with Palomar Natural Resources ("PNR") across seven Concessions in Poland's Permian Basin

-- PNR has paid $5 million and $15 million cash upfront for a 65% working interest in each of the Southern Permian Basin and Northern Permian Basin Concessions, respectively

-- San Leon carried for defined initial work programme aimed at bringing the Rawicz and Siekierki fields into production as soon as possible
-- PNR was founded in 2013 by John Buggenhagen, former Exploration Director of San Leon, and Robert Price

San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, is delighted to announce that it has signed a joint venture agreement with Palomar Natural Resources ("PNR") across seven Concessions in Poland's Permian Basin initially focused on developing the discovered, unproduced Siekierki and Rawicz gas fields. In return for a 65% working interest in the Southern Permian Basin and Northern Permian Basin Concessions, PNR has paid upfront to San Leon $5 million and $15 million, respectively, in cash and will carry San Leon for a defined initial work programme aimed at bringing the Rawicz and Siekierki fields into production as soon as possible. PNR will become the operator of all of the Concessions.

The Joint Venture ("JV") is divided into two core areas across seven exploration concessions including the Rawicz (39/2009/p), Wschowa (8/2009/p), Gora (30/2008/p) and Nowa Sol (5/2009/p) concessions ("Southern Permian Basin"); and the Poznan North (26/2008/p), Poznan East (4/2003/p), Poznan East (5/2003/p) concessions ("Northern Permian Basin").
Southern Permian Basin - Rawicz Gas Field:

PNR has received a 65% equity interest and operatorship in the Southern Permian Basin concessions, including the Rawicz field. The Company has retained a 35% equity interest. In consideration for this farm-out:

1. PNR has provided San Leon with $5 million in cash up-front; and
2. PNR will carry San Leon's participating interest in the first two development wells on the Rawicz gas field including drilling, evaluation, completion and testing of each well in the Permian Rotliegendes formation.

The carry, plus a 10% return, will be repaid to PNR from half of San Leon's production revenues from the Rawicz field. In the event that there are no production revenues, the carry will not be repaid.
PNR intends to start permitting, operational planning, and well design immediately pending final approvals and permits from the Polish regulatory authorities. The first well is planned to be drilled in Q3/Q4 2014 including completion and testing.

Northern Permian Basin - Siekierki Gas Field
PNR will receive 65% equity interest and Operatorship in the Northern Permian Basin concessions, including the Siekierki field. The Company has retained a 35% equity interest. In consideration for this farm-out::

1. PNR has provided San Leon with $15 million in cash up-front; and
2. PNR will fully carry the work over, recompletion and testing of three existing wells (Trzek-1, Trzek-2H and Trzek-3H) in the Permian Rotliegendes formation.

3. There is no cost recovery by PNR for the carry. The goal of recompleting the three wells is to focus on higher quality reservoir intervals, and for the work overs to begin during late Q3/early Q4 2014. These wells produced an average of approximately 3 mmscf/d during previous testing, and the work overs will target additional reservoir zones and improved flow rates and ultimate recoveries from the significant resource potential of the Siekierki field

Top of the list today

LSE % Gainers Top Lists

-- EPIC - Name ----%
1- SLE San Leon +56%
2- OCT Octagonal +36%
3- AUM Aurasian Min +27%

http://www.dailymail.co.uk/money/markets/article-2949630/MARKET-REPORT-Penny-share-punters-told-boots-shares-Dublin-based-San-Leon-Energy.html
--------------------------------


Date Broker New target Recomm.
28 Jan Westhouse... 6.10 Buy
21 Jan Westhouse... 6.70 Buy
21 Jan finnCap 13.00 Corporate

---------------

Wondering if this is worth a punt after reading the mail article ,i shall have a read through the thread .
Anyone else still in ??

Interesting bid speculation on this

so is it a buy

I notice in their corporate update this:

San Leon recently hosted senior management from Geron Energy Investment ("Geron"), a party to the Offeror, on a field trip to OML 18 and the nearby Notore chemical plant, as part of ongoing take-over discussions.

The Company has additionally signed confidentiality agreements with a further three parties who have approached San Leon, subsequent to the Company's announcements of 19 and 21 December 2016.


Seems that bidders are circling, last price quoted for a bid was 80p by Geron. Current share price 47p.

Some upside potential?

This may create a downside Mike!

19 April 2017

San Leon Energy plc
("San Leon" or the "Company")

Morocco Update

San Leon Energy plc, the AIM listed company focused on oil and gas development and appraisal in Africa and Europe, announces that the Office National des Hydrocarbures et des Mines ("ONHYM") has written to the Company regarding the non-performance of the work programme on its Zag Licence, onshore Morocco. ONHYM has assumed control of the existing bank guarantee (San Leon's share being $1,400,000 - an amount listed in the Company's accounts as restricted cash), and has requested a penalty of the same amount again to be paid. The Company is in negotiations with ONHYM regarding the future of the licence, including the work programme. The Zag licence is in a geographical area which the Company believes justifies a declaration of force majeure due to the regional security situation. San Leon will update the market in due course.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Petromaroc hit with similar issue on this licence. Will be interesting to see how this security issue in the sub-sahara is resolved.