San Leon Energy PLC Update on Oza field, Nigeria (2492L)
December 29 2022 - 10:39AM
UK Regulatory
TIDMSLE
RNS Number : 2492L
San Leon Energy PLC
29 December 2022
29 December 2022
San Leon Energy plc
("San Leon")
Update on Oza field, Nigeria
San Leon, the independent oil and gas production, development
and exploration company focused on Nigeria, notes the announcement
made on 22 December 2022 by Decklar Resources Inc. ("Decklar") in
Canada. San Leon has a 11% shareholding in Decklar Petroleum
Limited ("DPL"), the local subsidiary of Decklar operating in
Nigeria, and has also made a US$5.5 million loan to DPL, via 10%
per annum unsecured subordinated loan notes.
As announced by San Leon on 20 December 2022, San Leon is
currently in advanced negotiations in respect of the proposed sale
of San Leon's non-core investments in DPL.
Part of the text of Decklar's announcement is set out below:
"Calgary, Alberta -- Decklar Resources Inc. (TSX-V: DKL) (OTCQX:
DKLRF) (FSE: A1U1) (the "Company" or "Decklar") is pleased to
announce that Decklar and its co-venturer Millenium Oil & Gas
Company Limited ("Millenium") have executed a new sale and purchase
agreement for the delivery of 30,000 barrels of crude oil ("bbls")
to the Edo Refinery and Petrochemicals Company Limited ("ERPC") in
Edo State, Nigeria.
Decklar and its co-venturer Millenium announce that following
the successful delivery of 10,000 bbls of crude oil, a sale and
purchase agreement has been signed for delivery of an additional
30,000 bbls of crude oil to a small crude oil refinery in Edo
State, Nigeria. Under the terms of the agreement an invoice will be
issued after delivery of each 5,000 bbls of crude oil with payment
to be received within 21 days."
Enquiries:
San Leon Energy plc +353 1291 6292
Oisin Fanning, Chief Executive
Julian Tedder, Chief Financial Officer
Allenby Capital Limited
(Nominated adviser and joint broker to San Leon) +44 20 3328 5656
Nick Naylor
Alex Brearley
Vivek Bhardwaj
Panmure Gordon & Co
(Joint broker to San Leon) +44 20 7886 2500
James Sinclair-Ford
John Prior
Tavistock
(Financial Public Relations) +44 20 7920 3150
Nick Elwes
Simon Hudson
Plunkett Public Relations +353 1 230 3781
Sharon Plunkett
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END
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