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

San Leon EnergyAnnouncement

28/10/2022 10:15

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RNS Number : 4888E  San Leon Energy PLC  28 October 2022

 

 

 

 

28 October 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 27 October 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.

 

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 it has
recommenced loading crude oil into trucks at the Oza Oil Field in Nigeria.

 

Delivery of Crude Oil

 

Decklar and its co-venturer Millenium Oil & Gas Company Limited
("Millenium") are pleased to announce that the required permits have been
obtained and loading of crude oil into trucks has recommenced at the Oza Oil
Field. The crude will be trucked to a crude processing and sales terminal in
Nigeria with which the Company has entered into an agreement. As previously
announced, the agreement with the company that owns the crude processing and
sales facilities provides for an initial delivery of 10,000 bbls. The parties
are also in advanced discussions to increase  the initial sales quantity to
30,000 bbls and to possibly agree a minimum monthly quantity of barrels of Oza
Oil Field

crude to be sold."

 

 

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

 John Prior
 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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