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

San Leon EnergyAnnouncement

01/07/2022 07:00

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RNS Number : 9299Q  San Leon Energy PLC  01 July 2022

 

 

1 July 2022

San Leon Energy plc

("San Leon" or the "Company")

 

Update on investment in the Oza field, Nigeria

 

Further to the Company's announcement on 3 May 2022, San Leon, the independent
oil and gas production, development and exploration company focused on
Nigeria, provides the following update in respect of its potential follow-on
investment in the Oza oil field in Nigeria ("Oza").

 

San Leon's announcement of 3 May 2022 noted that the Company had an option
until 30 June 2022 (the "Option Period") to provide a further loan of US$2.5
million to Decklar Resources Limited ("Decklar"), in order to increase its
shareholding in Decklar from 11% to 15% (or otherwise accept the pro rata
reduction in its shareholding in Decklar to 11%).

 

San Leon is in discussions with Decklar in respect of potentially extending
the Option Period. The Company will release further announcements as and when
appropriate.

 

 

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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