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

San Leon EnergyAnnouncement

25/07/2022 15:15

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RNS Number : 6589T  San Leon Energy PLC  25 July 2022

 

 

25 July 2022

San Leon Energy plc

("San Leon")

 

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% 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: DKLRF) (FSE:
A1U1) (the "Company" or "Decklar") provides an update regarding the resumption
of production from the Oza-1 well at the Oza Oil Field in Nigeria.

 

Decklar and its co-venturer Millenium Oil & Gas Company Limited have
received the permits required to resume production from the Oza-1 well at the
Oza Oil Field. Production from the well has begun at low volumes initially to
reestablish oil flow, with volumes to be increased steadily in order to
establish a long-term sustainable rate. Production of crude oil from the Oza-1
well will flow into storage tanks at the Oza Oil Field and then be delivered
by truck to the Umugini Pipeline Infrastructure Limited crude handling
facilities."

 

 

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 San Leon)
 Nick Naylor

 Alex Brearley

 Vivek Bhardwaj
 Panmure Gordon & Co                                +44 20 7886 2500

 (Joint broker to San Leon)
 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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