SLE.GB San Leon Energy Plc

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RNS Number : 3067U

San Leon Energy PLC

29 July 2022

29 July 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 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.

Part of the text of Decklar's announcement is set out below:

"Calgary, Alberta -- Decklar Resources Inc. (TSX-V: DKL) (OTCQX: DKLRF) (FSE: A1U1) (the "Company" or "Decklar") provides an update regarding the crude oil production rate from the Oza-1 well at the Oza Oil Field in Nigeria.

Decklar and its co-venturer Millenium Oil & Gas Company Limited are pleased to announce that the Oza-1 well at the Oza Oil Field has reached an averaged, stabilized production rate of 1,184 barrels of oil per day ("bopd").

The well is producing this volume of crude oil at a fixed choke setting of 24/64 inch over a 46 hour period. The Oza-1 well is currently producing an average of 1,184 bopd of 23 degree API sweet crude oil and flowing tubing head pressure of 400 psig with zero BS&W and an average gas oil ratio of 71 mcf/bbl. Production of crude oil from the Oza-1 well is flowing into storage tanks at the Oza Oil Field and then will be delivered by truck to the Umugini Pipeline Infrastructure Limited crude handling facilities."

 
 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 
 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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July 29, 2022 08:57 ET (12:57 GMT)

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