San Leon shelves Turkish plans

Oil and gas explorer San Leon Energy yesterday said it has decided not to go ahead with projects in Turkey and will invest in shale gas interests in Poland’s Baltic Basin instead. The Aim-listed firm attributed the decision to regulatory delays in Turkey, increased risk to production targets and currency devaluation. “We are now on the verge of production and cash flow in our core operating area, Poland,” said chairman Oisin Fanning.