Update on development of the Oza field, Nigeria

RNS Number : 6589T

San Leon Energy PLC

25 July 2022

 

25 July 2022

San Leon Energy plc

("San Leon")

Update on development of the Oza field, Nigeria

San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, notes the announcement made 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") provides an update regarding the resumption of production from the Oza-1 well at the Oza Oil Field in Nigeria.

Decklar and its co-venturer Millenium Oil & Gas Company Limited have received the permits required to resume production from the Oza-1 well at the Oza Oil Field. Production from the well has begun at low volumes initially to reestablish oil flow, with volumes to be increased steadily in order to establish a long-term sustainable rate. Production of crude oil from the Oza-1 well will flow into storage tanks at the Oza Oil Field and then be delivered by truck to the Umugini Pipeline Infrastructure Limited crude handling facilities."

Enquiries:

San Leon Energy plc	[phone]
Oisin Fanning, Chief Executive Julian Tedder, Chief Financial Officer
Allenby Capital Limited (Nominated adviser and joint broker to San Leon)	[phone]
Nick Naylor Alex Brearley Vivek Bhardwaj
Panmure Gordon & Co (Joint broker to San Leon)	[phone]
James Sinclair-Ford
Tavistock (Financial Public Relations)	[phone]
Nick Elwes Simon Hudson
Plunkett Public Relations	[phone]
Sharon Plunkett

 

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