Update on investment in the Oza field, Nigeria

RNS Number : 9299Q

San Leon Energy PLC

01 July 2022

 

1 July 2022

San Leon Energy plc

("San Leon" or the "Company")

Update on investment in the Oza field, Nigeria

Further to the Company's announcement on 3 May 2022, San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, provides the following update in respect of its potential follow-on investment in the Oza oil field in Nigeria ("Oza").

San Leon's announcement of 3 May 2022 noted that the Company had an option until 30 June 2022 (the "OptionPeriod") to provide a further loan of US$2.5 million to Decklar Resources Limited ("Decklar"), in order to increase its shareholding in Decklar from 11% to 15% (or otherwise accept the pro rata reduction in its shareholding in Decklar to 11%).

San Leon is in discussions with Decklar in respect of potentially extending the Option Period. The Company will release further announcements as and when appropriate.

Enquiries:

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

 

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