San Leon Results Will Wipe Exxon Disappointment

BMI View: We believe that San Leon's exploratory success at its Siciny-2 well in Poland will heighten optimism with regard to Poland's shale gas prospectivity and greatly encourage the company's peers, many of whom are already undertaking exploration across the country. This is the first major positive development in Poland's shale gas saga this year, with the country suffering significant setbacks - the most recent being Exxon's retreat from the market.

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