REG - San Leon Energy PLC - Update on investment in Oza Field, Nigeria

San Leon EnergyAnnouncement

15/12/2020 07:01

RNS Number : 6247I
  
San Leon Energy PLC
  
15 December 2020
  
 

 
15 December 2020
San Leon Energy plc
("San Leon" or the "Company")
 
Update on investment in Oza Field, Nigeria
 
Further to its previous announcements regarding its proposed investment in Decklar Petroleum Limited ("Decklar") and the Oza Field in Nigeria, San Leon announces that the parties have agreed to extend the completion date to early in the new year.
 
As previously announced, worldwide restrictions put in place in response to the Covid-19 pandemic have slowed the logistical process in concluding the conditions precedent in the Subscription Agreement.  Nevertheless progress continues to be made and the trading subsidiary of a major oil company, which along with a local Nigerian bank, is to provide a five year term debt to Millenium Oil and Gas Company Limited, Decklar's local partner, has provided a further written confirmation of its support of the transaction.  Given the proximity of the Christmas holiday period, the parties have decided to review the status of the outstanding conditions in the new year and assess at that time what remains outstanding.
 
Enquiries:
 



San Leon Energy plc


+353 1291 6292




Oisin Fanning, Chief Executive








Allenby Capital Limited
(Nominated adviser and joint broker to the Company)


+44 20 3328 5656




Nick Naylor
Alex Brearley
Asha Chotai








Panmure Gordon & Co 
(Joint broker to the Company)


+44 20 7886 2500




Nick Lovering 








Brandon Hill Capital Limited
(Joint broker to the Company)


+44 20 3463 5000




Oliver Stansfield
Jonathan Evans








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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