Update on Oza field, Nigeria

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	[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 John Prior
Tavistock (Financial Public Relations)	[phone]
Nick Elwes Simon Hudson
Plunkett Public Relations	[phone]
Sharon Plunkett

 

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