San Leon Energy pumps out cash as it looks for next opportunity

  • San Leon Energy inks investment agreement as Decklar well programme advances
  • San Leon Energy’s Oisin Fanning discusses US$15mln investment in Energy Link Infrastructure
San Leon Energy PLC - San Leon Energy finances are in rude health, eyes open for next growth opportunities

Quick facts: San Leon Energy PLC


View company profile

San Leon has transitioned from a largely exploration focussed independent to a producing energy company.

It has indirect participation in OML18, a world-class oil and gas block onshore Nigeria, which forms the centrepiece of the company’s portfolio. San Leon also has interests across a number of other assets.

The company is driven by technical expertise, its operational capabilities and industry contacts, and it is secured by close links with governments, partners and the local communities in the territories that it operates in.

12 Aug 2021

(, , , ) () has inked a conditional investment agreement to acquire up to 15% of Decklar Petroleum Ltd, which operates the Oza field.

The agreement entitles San Leon to buy US$7.5mln of loan notes, carrying a 10% interest, and a 15% shareholding in the company.

Investment from San Leon will support Decklar’s programme to enter and test the Oza-1 well as part of the development of the field.

In an operations update, Decklar said that it has completed critical initial work activities, including the removal of tubing from the well, a cement bond was completed, and surface testing facilities are currently being installed.

Read more

03 Aug 2021

(, , , ) (AIM: SLE) said its chief financial officer and executive director, Lisa Mitchell, has resigned to take up a new role and that it has started the search for a replacement.

The Nigeria-focused oil and gas company said Mitchell will remain in her position and as a member of the board for the time being while San Leon continues to progress its proposed transactions with Midwestern Oil and Gas Company Ltd and Energy Link Infrastructure (Malta) Ltd.

Read more

15 Jul 2021

() has noted an announcement from regarding the Oza Field in Nigeria.

The Decklar announcement said that the drilling rig and related equipment are set up on location at the Oza-1 well site and have been tested and inspected and are currently pulling existing tubing out of the well.

Read more

03 Aug 2020

‘s () CEO Oisin Fanning speaks to Proactive London after announcing it’s investing US$15mln in Energy Link Infrastructure, the company which owns the Alternative Crude Oil Evacuation System project. The ACOES is being constructed to provide a dedicated oil export route from the OML 18 asset offshore Nigeria, comprising a new pipeline and a floating storage and offloading vessel.

20 Apr 2021

‘s () 2016 acquisition of an interest in OML 18 in Nigeria is starting to generate value for shareholders and provides not only a strong presence in a highly prospective region but also the liquidity with which it can execute a growth strategy optimised in its favour. We have undertaken a sum of the parts (SOP) valuation, which we have “sense checked” against Proactive’s valuation estimates for the principal assets. We estimate the fair value to be between US$459 — 743mln (76 — 121p a share).

Read full report

Download Research

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is…

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash…


San Leon Energy ‘strengthen position’ in OML 18 Nigeria ‘providing runway to…

Proactive analyst Zac Phillips presents this analysis on San Leon Energy PLC’s (LON:SLE). Phillips explains how the 2016 acquisition of an interest in OML 18 in Nigeria is starting to generate value for shareholders and provides not only a strong presence in a highly prospective region but also…

on 20/4/21

4 min read


Please enter your comment!
Please enter your name here