San Leon Energy PLC Update on development of the Oza field, Nigeria (9852M)
May 26 2022 - 11:38AM
UK Regulatory
TIDMSLE
RNS Number : 9852M
San Leon Energy PLC
26 May 2022
26 May 2022
San Leon Energy plc
("San Leon" or the "Company")
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 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:
"Calgary, Alberta -- Decklar Resources Inc. (TSX-V: DKL) (OTCQX:
DLKRF) (FSE: A1U1) (the "Company" or "Decklar")
is pleased to announce the initial successful shipments of crude
oil via trucks from the Oza Oil Field to the Umugini Pipeline
Infrastructure Limited ("UPIL") crude handling facilities.
Decklar and its co-venturer Millenium Oil & Gas Company
Limited ("Millenium") have successfully trucked approximately 4,000
barrels of crude oil from storage tanks at the Oza Oil Field to the
UPIL crude handling facilities, from which the oil will then be
transferred to the Shell Petroleum Development Company of Nigeria
Limited ("SPDC") Joint Venture Forcados Oil Export Terminal via the
Umugini Pipeline.
The trucks continue to be loaded from crude oil storage tanks at
the Oza site that hold approximately 22,000 barrels of oil. During
an initial trial trucking period, a reduced volume of crude oil was
shipped by a small convoy of trucks to evaluate possible logistics
and security issues and to determine optimum routes and
infrastructure requirements. The initial trial period for trucking
activities was successful, and the number of trucks to be used is
now being increased and optimized. When sufficient shipment of
crude oil volume from storage tanks has been completed, production
from the Oza-1 well will be re-started to supply continued
shipments by truck to UPIL ."
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 the Company) +44 20 3328 5656
Nick Naylor
Alex Brearley
Vivek Bhardwaj
Panmure Gordon & Co
(Joint broker to the Company) +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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