DJ San Leon Energy PLC Rockall Licence Update
RNS Number : 6575C
San Leon Energy PLC
10 March 2011
("San Leon" or the "Company")
Government approves assignment of OMV interest in Rockall Licence to San Leon Energy

OMV pays San Leon GBP3 million on completion of transaction

Further to an announcement made on 12 January San Leon Energy P.l.c., ("San Leon" or the "Company") is pleased to announce that

the Irish government has granted formal approval for the transfer of the OMV (Ireland) Killala Exploration GmbH ("OMV") interest in

Irish Continental Shelf Petroleum Exploration Licence No: 3/05 (the "Rockall Licence") to San Leon.

An Addendum to the Rockall Licence was executed between San Leon, OMV and the Irish government. OMV has paid the Company GBP3

million cash and assigned its 50% beneficial interest to San Leon, thereby giving the Company a 100% interest in the licence,

effective immediately.

San Leon is currently engaged in a farm out process relating to its Irish Atlantic Margin assets with significant equity being

made available on all licenses, including the Rockall Licence which comprises the Killala and Kingfisher prospects.

Oisin Fanning, Executive Chairman of San Leon, commented:

"The Rockall Licence offers two prospects with significant exploration upside and we are excited by the potential to bring in

new partners seeking interests in the Atlantic Margin. We are now in a position to farm out this asset on a 100% basis. Coupled with

the near completed interpretation of our 2010 3D seismic data over the Slyne area, San Leon continues to enhance the value of its

Atlantic Margin portfolio."
10 March 2011

San Leon Energy
plc Oisin Fanning, Executive Chairman +353 1291 6292
John Buggenhagen, Director
of Exploration

Macquarie Capital
(Europe) Limited +44 (0) 3037 2000
John Dwyer
Paul Connolly
Ben Colegrave

Fox-Davies Capital +44 (0) 203 463
Limited 5010
Phil Davies
David Porter

Arbuthnot Securities Nominated Adviser +44 (0) 20 7012
Limited 2000
Nick Tulloch
Ben Wells

College Hill Investment Relations Adviser +44 (0) 20 7457
Nick Elwes

Note to Editors:

Killala is located on the Erris Ridge, a longstanding feature separating the Slyne-Erris and Rockall basins. As such it benefits

from dual sourcing potential, with hydrocarbon systems proven on both sides, by the Dooish Gas Condensate discovery on the Rockall

side and the Corrib Gas Field on the Slyne-Erris side. The mapped structure at Killala has more than 1000m of closure at the Top

Sherwood Sandstone level. The structure at Kingfisher consists of a large tilted fault block with an interpreted 500m of closure at

top Sherwood Sandstone level. In addition, Jurassic sandstones are prospective for oil at Kingfisher, a fact highlighted by the 2009

Slyne Basin 27/4-1 oil discovery.
This information is provided by RNS
The company news service from the London Stock Exchange
(END) Dow Jones Newswires
10-03-11 0700GMT


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