San Leon Energy PLC Update on development of the Oza field, Nigeria (8576K)
May 10 2022 - 3:41AM
UK Regulatory
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RNS Number : 8576K
San Leon Energy PLC
10 May 2022
10 May 2022
San Leon Energy plc
("San Leon")
Update on development of the Oza field, Nigeria
San Leon, the independent oil and gas production, development
and exploration company focused on Nigeria, notes the announcement
made yesterday by Decklar Resources Inc. ("Decklar") in Canada. San
Leon has a 11.5% shareholding in Decklar Petroleum Limited ("DPL"),
the local subsidiary of Decklar operating in Nigeria, and has also
made a US$5.5 million loan to DPL, via 10% per annum unsecured
subordinated loan notes.
Part of the text of Decklar's announcement is set out below:
-- Decklar and its co-venturer have commenced loading crude oil
into trucks at the Oza Oil Field from storage tanks for delivery to
the Umugini Pipeline Infrastructure Limited ("UPIL") crude handling
facilities for further transfer to the Shell Petroleum Development
Company of Nigeria Limited ("SPDC") Joint Venture Forcados Oil
Export Terminal via the Umugini Pipeline.
-- When loading of crude oil from storage has reached 5,000
barrels, production from the Oza-1 well will start in order to
enable ongoing shipments by truck to UPIL.
Calgary, Alberta -- Decklar Resources Inc. (TSX-V: DKL) (OTCQX:
DLKRF) (FSE: A1U1) (the "Company" or "Decklar") is pleased to
announce the commencement of the shipment of crude oil via trucks
from the Oza Oil Field to the UPIL crude handling facilities for
further transfer to the SPDC Joint Venture Forcados Oil Export
Terminal via the Umugini Pipeline.
Oza Field Oil Export Operations
Decklar and its co-venturer Millenium Oil & Gas Company
Limited ("Millenium") have commenced loading crude oil into trucks
at the Oza Oil Field from storage tanks for delivery to the UPIL
crude handling facilities for further transfer to the SPDC Joint
Venture Forcados Oil Export Terminal via the Umugini Pipeline.
The trucks are currently being loaded from crude oil storage
tanks at the Oza site that hold approximately 22,000 barrels of
oil. When loading of crude oil from storage to the trucks has
reached approximately 5,000 barrels, production from the Oza-1 well
into the storage tank will be re-started in order to enable ongoing
shipments by truck to UPIL.
As previously announced, 2022 development plans for the Oza
Field include:
- finalizing arrangements with local communities and contractors
to start construction of the access road and associated
infrastructure for a new oil well drilling pad;
- drilling the first new development well;
- re-entry, re-completion, and flow testing of the other two
existing wells (Oza-2 and Oza-4), including tie-in to existing
production facilities;
- installation of a Central Production Facility and
infrastructure tie-ins for new well locations to replace the
current Early Production Facility; and
- drilling of up to two additional development wells.
Development plans for the Oza Field beyond 2022 also include up
to five additional development wells.
Enquiries:
San Leon Energy plc +353 1291 6292
Oisin Fanning, Chief Executive
Julian Tedder, Chief Financial Officer
Allenby Capital Limited
(Nominated adviser and joint broker to San Leon) +44 20 3328 5656
Nick Naylor
Alex Brearley
Vivek Bhardwaj
Panmure Gordon & Co
(Joint broker to San Leon) +44 20 7886 2500
Nick Lovering
James Sinclair-Ford
Tavistock
(Financial Public Relations) +44 20 7920 3150
Nick Elwes
Simon Hudson
Plunkett Public Relations +353 1 230 3781
Sharon Plunkett
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END
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