28 March 2024
San Leon Energy
plc
("San
Leon")
Update on Oza field,
Nigeria
San Leon, the independent oil and gas production,
development and exploration company focused on Nigeria, notes
the announcement made on 27 March 2024 by Decklar Resources Inc.
("Decklar") in Canada. San Leon has a 11% 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.
As most recently stated in its announcement on 30
November 2023, San Leon continues to explore a potential sale of
its non-core investments in DPL, although any completion remains
subject to the proposed purchaser finalising its own funding
arrangements. A further announcement will be made in relation to
this at the appropriate time.
Part of the text of Decklar's announcement is set out
below:
"- Decklar Resources Inc. and its co-venturer
Millenium Oil & Gas Company Limited announce continued crude
oil injection volumes from the Oza Oil Field through the Trans
Niger Pipeline to the Bonny Export Terminal.
- Decklar and Millenium sell additional crude oil
production from the Oza Oil Field to a local refinery in Edo
State.
Calgary, Alberta -- Decklar Resources Inc.
(TSX-V: DKL) (OTC: DKLRF) (FSE: A1U1) (the "Company" or
"Decklar") and its co-venturer Millenium Oil & Gas Company
Limited ("Millenium") are pleased to announce ongoing crude oil
injection volumes into the Trans Niger Pipeline ("TNP") for
transport to and export from the Bonny Export Terminal from the Oza
Oil Field and continued sales to a local refinery in Edo
State.
Delivery of Crude
Oil from the Oza Oil Field
Decklar and Millenium have injected over 18,400
barrels of crude oil ("bbls") into the TNP for transport to the
Bonny Export Terminal thus far in 2024. Decklar and Millenium have
injected a total of 34,600 barrels of crude oil into the Bonny
Export Terminal from commencement of TNP pipeline operation in late
2023. Crude oil production from the Oza Oil Field through the TNP
to the Bonny Export Terminal is being sold to Shell Western Supply
and Trading Limited ("Shell"). Crude oil held in storage at the Oza
Oil Field and crude oil being produced into storage tanks from the
Oza-1 and Oza-4 wells is being transported by truck a short
distance in-field to the transfer pumping station at the Oza Oil
Field for injection into the TNP. The first crude oil export cargo
of 15,000 bbls to Shell was loaded on board a vessel with a bill of
lading date of February 7, 2024, with sales proceeds expected in
the last week of March. Decklar and Millenium are expecting another
crude oil export nomination notice from Shell before the end of
March 2024 for the export of another 15,000 barrels of crude oil
currently held in the Bonny Export Terminal tanks.
In addition, total deliveries to date in 2024 to the
Edo refinery totalled over 15,000 bbls."
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
|
|
James Sinclair-Ford
|
|
|
Fortified
Securities
(Joint broker to San
Leon)
|
+44 7493989014
|
|
Guy Wheatley
|
|
|
Tavistock
(Financial Public
Relations)
|
+44 20 7920 3150
|
|
Nick Elwes
Simon Hudson
|
|
|
Plunkett Public
Relations
|
+353 1 230 3781
|
|
Sharon Plunkett
|
|