Comment on News Article

RNS Number : 5484N

San Leon Energy PLC

09 May 2018

 

09 May 2018

San Leon Energy plc

("San Leon" or the "Company")

Comment on News Article

San Leon Energy plc, the AIM listed company, focused on oil and gas development and appraisal in Africa and Europe, notes a media article in the Nigerian press relating to a claim by SunTrust Oil ("SunTrust") in respect of alleged payments due for the sale of their shares in Martwestern. The Company confirms it has received an application from SunTrust seeking leave (asking for permission) from the High Court Nigeria Holden to serve a petition outside the jurisdiction of Nigeria in respect of alleged amounts due.

Having taken legal advice, the Company believes the claim has no foundation (there being no outstanding liabilities to SunTrust from San Leon following the issue of San Leon shares to SunTrust in September 2016), and additionally the Nigerian courts lack jurisdiction for any such claim. The Company confirms it has instructed its Nigerian solicitors to file objections restraining the applications of SunTrust.  This would have the effect of striking out the applications.

Enquiries:                                                                                                                                                            

San Leon Energy plc                                                       

Oisin Fanning, Chief Executive (+ 353 1291 6292)

Cantor Fitzgerald Europe (Nominated adviser, financial adviser and joint broker to the Company)

David Porter ([phone])

Nicholas Tulloch ([phone])

Whitman Howard Limited (Financial adviser and joint broker to the Company)

Nick Lovering ([phone])

Francis North ([phone])

Brandon Hill Capital Limited (Joint broker to the Company)                       

Oliver Stansfield ([phone])             

Jonathan Evans ([phone])   

Vigo Communications (Financial Public Relations)                                         

Chris McMahon ([phone])               

Kate Rogucheva ([phone])               

Plunkett Public Relations                                                                                           

Sharon Plunkett ([phone])              

 

END

 

 

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