2nd Nov 2021 20:37
San Leon Energy PLC - Dublin-based oil & gas exploration company - Notes announcement that Decklar Resources Inc has concluded completion operations at the Oza-1 well.
Final completion has been installed, which has a single 2 7/8 inch tubing string and has a design that can be configured to allow for production from the L2.6 sand, which was tested at a stabilised flow rate of 2,463 barrels of oil per day.
Logistics and export activities for the well are being finalised, after which the well will start commercial production.
Earlier in October, San Leon had entered into a subscription agreement with Decklar Petroleum Ltd, a subsidiary of Decklar Resources, to purchase USD7.5 million unsecured subordinated loan notes of Decklar and 15% of its enlarged share capital.
Also on Tuesday, San Leon confirms that Chief Financial Officer Lisa Mitchell has left the company, and the company has identified a replacement. San Leon will name the replacement once their appointment is successful.
Current stock price: 39.97 pence
Year-to-date change: up 64%
By Dayo Laniyan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
SLE.L