Celtic Sea

Barryroe Oil Field (Standard Exploration Licence 1/11)

San Leon holds a 4.5% Net Profit Interest (NPI) on the Barryroe Licence which is located in the North Celtic Sea, offshore Ireland. The field has had six wells successfully drilled on the structure, the latest of which, the 48/24-10z well, was drilled and tested in March 2012.

Following the drilling of the 48/24-10z well, Providence Resources Plc, who are operators of the licence, announced Competent Persons Report 2C contingent recoverable resources of 266 million barrels. These figures may be found on Providence Resources website.

San Leon will continue to retain the 4.5% NPI on the full field while not paying any appraisal or development costs on the project as it moves forward.

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