San Leon holds a 75% interest in the Durresi block, which is situated along the highly prospective Apulian Margin, and is its operator, while Beach Energy holds the remaining interest.
With the recent approval, San Leon will focus on acquiring over 300 sq km of 3D seismic data on the block during the remainder of this quarter.
The 3D seismic program will evaluate the A4-1X discovery as well as prepare for a 2012 appraisal drilling program in the undeveloped gas condensate field.
Beach Energy has agreed to pay 50% of the seismic acquisitions costs, rather than its 25% working interest requirement, which will allow it to hold a 50% interest in the license going forward.
San Leon said it is also exploring significant potential multiple plays adjacent to A4-1X targeting both oil and gas.
