Petroleum Africa
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Friday, July 1, 2022
Release
Further to the Company’s announcement on 3 May 2022, San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, provides the following update in respect of its potential follow-on investment in the Oza oil field in Nigeria (Oza).
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 Limited (Decklar), 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. The Company will release further announcements as and when appropriate.
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