San Leon Advances After Finding Gas in Second Poland Well

San Leon Energy Plc (SLE), an oil and gas explorer drilling shale rock in Poland, rose the most in five weeks in London trading after its Rogity-1 well found hydrocarbons.

San Leon climbed 14 percent to close at 12.5 pence, the biggest one-day gain since Jan. 6, valuing the Dublin-based company at 141.8 million pounds ($223.4 million).

The well, operated by Talisman Energy Inc. (TLM), was drilled to a depth of 2,788 meters (9,147 feet), San Leon said today in a statement. “Continuous gas shows were encountered over more than 500 meters,” as well as indications of oil, it said.

Rogity-1 is San Leon’s second well with Talisman in Poland. Last year, the Lewino 1G-2 well encountered gas over more than 1,000 meters, the company said Nov. 17.

To contact the reporter on this story: Eduard Gismatullin in London at egismatullin@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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