REG - San Leon Energy PLC - Update on development of the Oza field, Nigeria

San Leon EnergyAnnouncement

26/05/2022 16:45

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RNS Number : 9852M  San Leon Energy PLC  26 May 2022

 

 

26 May 2022

San Leon Energy plc

("San Leon" or the "Company")

 

Update on development of the Oza field, Nigeria

 

San Leon, the independent oil and gas production, development and exploration
company focused on Nigeria, notes the announcement made by Decklar Resources
Inc. ("Decklar") in Canada.  San Leon has a 11.5% 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.

 

Part of the text of Decklar's announcement is set out below:

 

"Calgary, Alberta -- Decklar Resources Inc. (TSX-V: DKL) (OTCQX: DLKRF) (FSE:
A1U1) (the "Company" or "Decklar")

is pleased to announce the initial successful shipments of crude oil via
trucks from the Oza Oil Field to the Umugini Pipeline Infrastructure Limited
("UPIL") crude handling facilities.

 

Decklar and its co-venturer Millenium Oil & Gas Company Limited
("Millenium") have successfully trucked approximately 4,000 barrels of crude
oil from storage tanks at the Oza Oil Field to the UPIL crude handling
facilities, from which the oil will then be transferred to the Shell Petroleum
Development Company of Nigeria Limited ("SPDC") Joint Venture Forcados Oil
Export Terminal via the Umugini Pipeline.

 

The trucks continue to be loaded from crude oil storage tanks at the Oza site
that hold approximately 22,000 barrels of oil. During an initial trial
trucking period, a reduced volume of crude oil was shipped by a small convoy
of trucks to evaluate possible logistics and security issues and to determine
optimum routes and infrastructure requirements. The initial trial period for
trucking activities was successful, and the number of trucks to be used is now
being increased and optimized. When sufficient shipment of crude oil volume
from storage tanks has been completed, production from the Oza-1 well will be
re-started to supply continued shipments by truck to UPIL."

 

 

Enquiries:

 

 San Leon Energy plc                                   +353 1291 6292
 Oisin Fanning, Chief Executive

 Julian Tedder, Chief Financial Officer
 Allenby Capital Limited                               +44 20 3328 5656

 (Nominated adviser and joint broker to the Company)
 Nick Naylor

 Alex Brearley

 Vivek Bhardwaj
 Panmure Gordon & Co                                   +44 20 7886 2500

 (Joint broker to the Company)
 Nick Lovering

 James Sinclair-Ford
 Tavistock                                             +44 20 7920 3150

 (Financial Public Relations)
 Nick Elwes

 Simon Hudson
 Plunkett Public Relations                             +353 1 230 3781
 Sharon Plunkett

 

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