10th Dec 2018 11:26
LONDON (Alliance News) - San Leon Energy PLC said Monday it expects drilling operations at the OML 18 licence, located in onshore Nigeria, to start in the next few days.
San Leon said that Eroton, the operator of the licence, has mobilised a rig to the well, which is expected to take up to 60 days to be drilled.
San Leon's Chief Executive Officer Oisin Fanning said: "Drilling the first new well of Eroton's operatorship marks the start of a new chapter in the development of OML 18.
"Increasing oil production at the wellhead is an important step in increasing cash flow from the asset, and I look forward to providing shareholders with an update on the performance of this new well in due course, in addition to providing further information on further development activities."
San Leon shares were trading up 0.9% at 23.80 pence each.
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