San Leon Energy plunges on change in asset operatorship
07/03/2023 11:32
** Shares of San Leon Energy Plc SLEN.L down as much as
19% to 23.5p
** The Nigeria-focused oil and gas explorer's stock is among
biggest pct losers across all London stocks .FTAS
** Co notes that Nigerian oil and gas producer Eroton has
been removed as operator of OML 18 field by non-operating
partners NNPC and OML 18 Energy Ltd due to zero production from
the field
** San Leon owns a 10.58% indirect economic interest in OML
18
** Says Eroton advised that the takeover of operatorship was
done without any legal or contractual backing
** Eroton is taking advice on its legal rights and says it
remains the operator of OML 18
** Shares down 24.8% so far this year as of last close
(Reporting by Anchal Rana in Bengaluru)
((Anchal.Rana@thomsonreuters.com; +91 9915609050;))