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San Leon Advances After Finding Gas in Second Poland Well

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Feb. 10 (Bloomberg) -- 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.

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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