San Leon Energy Plc, 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., 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.