2023-09-01 17:32:00
San Leon Energy PLC – a Nigeria-focused oil and gas production, development and exploration company – announces a further extension of deadlines for proposed transactions with Midwestern Oil & Gas Co Ltd and the company’s conditional new investments in Energy Link Infrastructure (Malta) Ltd. All due dates have been pushed back to September 30. Discussions are ongoing with Midwestern to determine whether a potential revision of the transaction can be agreed to allow for its completion as eroton’s new credit facilities and the acquisition of Sahara OML 18 continue to be delayed for beyond the control of society. There is no guarantee that such revised terms will be accepted. In addition, the company remains in discussions with a third party to obtain an alternative credit facility of USD 50 million. In addition, the company remains in discussions with ELI regarding other potential investments of up to $37.0 million in ELI, which would be conditional upon completion of the $50.0 million alternative loan facility. USD.
Current share price: 16.14 pence
By Jeremy Cutler, reporter at Alliance News
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