Disposal of Amstel Field Royalty for EUR 9.9m (2086G)

TIDMSLE

RNS Number : 2086G

San Leon Energy PLC

27 June 2012

San Leon Energy Plc

("San Leon" or the "Company")

Acceptance of EUR9.9m Cash Offer for Amstel Field Overriding Royalty

San Leon Energy is pleased to announce that it has accepted a cash offer of EUR9.9 million (approx. US$ 13 million) ("the Offer") for its 2.5% overriding royalty interest (ORRI) in the Amstel Field production licence (Block Q13a), offshore Netherlands from GDF Suez E&P, the operator of the Amstel Field. The Offer will complete by 20 July 2012.

Oisin Fanning, Chairman of San Leon, commented:

"We are pleased to accept this offer from GDF Suez. Considering the international risks facing oil prices, we consider the offer to represent fair value. These resources can now be applied to San Leon's other core exploration activities, such as in Poland, where we are planning further exploration on the back of the Siciny-2 well success*."

*see RNS 26 June 2012

For further information contact:

 
 San Leon Energy Plc                  Tel: + 353 1291 6292 
 Oisin Fanning, Executive Chairman 
 John Buggenhagen, Exploration 
  Director 
 
 Macquarie Capital (Europe) Limited   Tel: +44 (0) 20 3037 2000 
 Paul Connolly 
 John Dwyer 
 
 Westhouse Securities                 Tel: +44 (0) 20 7601 6100 
  Richard Johnson 
 Antonio Bossi 
 
 College Hill Associates              Tel: +44 (0) 20 7457 2020 
 Nick Elwes 
 Alexandra Roper

www.sanleonenergy.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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