KEYFACT Energy
San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, has provided an update in respect of its potential follow-on investment in the Oza oil field in Nigeria.
San Leon's announcement of 3 May 2022 noted that the Company had an option until 30 June 2022 (the 'Option Period') to provide a further loan of US$2.5 million to Decklar Resources, in order to increase its shareholding in Decklar from 11% to 15% (or otherwise accept the pro rata reduction in its shareholding in Decklar to 11%).
San Leon is in discussions with Decklar in respect of potentially extending the Option Period.