Akaso-15 Well Completed, Rig Moving to PMMO-1

RNS Number : 3497R

San Leon Energy PLC

28 February 2019

 

28 February 2019

San Leon Energy plc

 ("San Leon" or the "Company")

Akaso-15 Well Completed, Rig Moving to Drill New Well Akaso PMMO-1

San Leon Energy plc, the AIM listed company focused on oil and gas development and appraisal in Africa, announced on 10 December 2018 that Eroton, the operator of the OML 18 licence, onshore Nigeria, was preparing to spud the new well OSMU-1 in the Akaso field. The Company is pleased to announce that the Akaso-15 well (known as OSMU-1 prior to completion) has been drilled and completed, and connection of the well to the pipeline system is anticipated by Eroton to finish this week.  The well is expected to be brought onto production during the first half of March 2019, and a well test will be performed once the well has achieved stable production.

The rig will now move to drill the next new well, Akaso PMMO-1.

Oisin Fanning, CEO, commented:

"I have previously stressed the importance of increasing oil production at the wellhead, which is what Eroton is doing with its drilling campaign. I look forward to providing an update on the second new well in due course in addition to advising on the production rate from Akaso-15."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement

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)

Nick Tulloch ([phone])

David Porter ([phone])

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

Nick Lovering ([phone])

Brandon Hill Capital Limited (Joint broker to the Company)

Oliver Stansfield ([phone])

Jonathan Evans ([phone])

 Vigo Communications (Financial Public Relations)

Chris McMahon ([phone])

Simon Woods ([phone])

Plunkett Public Relations

Sharon Plunkett ([phone])

 

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