23rd Nov 2020 07:00
23 November 2020
San Leon Energy plc
("San Leon" or the "Company")
Update on investment in Oza Field, Nigeria
Further to its announcements of 1 September 2020 and 2 November 2020 regarding its proposed investment in Decklar Petroleum Limited ("Decklar") and the Oza Field in Nigeria, San Leon announces that the parties have agreed to an additional three week extension to 14 December 2020.
As was the case with the previous extension, worldwide restrictions in place to slow the spread of Covid-19 have presented certain logistical challenges. However, good progress has been made with the final drafts of all remaining conditions precedent in the Subscription Agreement currently being reviewed by the parties. In particular, the trading subsidiary of a major oil company, which along with a local Nigerian bank, is to provide a five year term debt to Decklar has provided written confirmation setting out the remaining steps that it is addressing prior to completion.
The terms of the transaction remain unchanged and all parties remain committed to bring it to a conclusion as soon as is practical.
Enquiries:
San Leon Energy plc | +353 1291 6292 |
Oisin Fanning, Chief Executive | |
Allenby Capital Limited (Nominated adviser and joint broker to the Company) | +44 20 3328 5656 |
Nick Naylor Alex Brearley Asha Chotai | |
Panmure Gordon & Co (Joint broker to the Company) | +44 20 7886 2500 |
Nick Lovering | |
Brandon Hill Capital Limited (Joint broker to the Company) | +44 20 3463 5000 |
Oliver Stansfield Jonathan Evans | |
Tavistock (Financial Public Relations) | +44 20 7920 3150 |
Nick Elwes Simon Hudson Barnaby Hayward | |
Plunkett Public Relations | +353 1 230 3781 |
Sharon Plunkett |
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