Davy Research

San Leon Energy (SLEN.L, SLE LN)

  • 126.8
  • 500.3
  • 100.0

Company Profile

San Leon is an Irish company listed on the AIM in London. It operates in a number of geographic locations, although the majority of its efforts are focused on Poland where its technical teams are also situated. It has a diverse spread of assets across its portfolio with a wide risk profile and has selected geographic locations that are import dependent with consequent strong gas price profiles. Growth in its assets and portfolio has been a consequence of its own organic activity and a number of strategic acquisitions. Over the last three years, the group has built up a very strong licence position in Poland and, following the purchase of Realm in mid 2011, it now has the largest unconventional acreage position in Poland. It is present in the Baltic Basin for unconventional gas and also in the Carboniferous and Permian Basins for both conventional and unconventional. It has a number of partners in Poland, the most important being the joint venture with Talisman Energy. Its strategy is to build a long-term unconventional gas business in Poland, augmented by near-term conventional production. It also has acreage targeted at unconventional gas plays in Germany, Spain and France. Separately, San Leon also has activities in Albania, Morocco and offshore Ireland with farm-out programmes underway in all three areas. Its Irish assets include a 4.5% net profit interest in the Barryroe development in the Celtic Sea.

Major Shareholders%
Toscafund Asset Mgmt59.0
Optima Worldwide Group10.3
Amara Equity Invest7.0
Soros Fund Mgmt3.5

    Closing Price (p): 25.4






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