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Friday, December 2, 2022

San Leon Energy says it is making ‘good progress’ to clear Nigeria deal conditions

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San Leon Energy PLC (AIM:SLE, AQSE:SLE, OTC:SLGYF) chief executive Oisin Fanning said the company is making good progress on clearing the conditions associated with agreements to consolidate its interests in Nigeria.

“We were delighted to have entered into a series of agreements for the proposed transactions in early July 2022,” Fanning said in the company’s interim results statement.

“We believe that this series of transactions, when completed, will be truly transformational for the company and will deliver significant value to our shareholders.

“We are making good progress on clearing the conditions associated with the agreements and still expect to complete the proposed transactions in the fourth quarter of 2022.”

Fanning added: “These transactions will pave the way for the company to deliver its strategy of becoming a significant participant in the Nigerian oil and gas market, positioning San Leon to take advantage of further transactional opportunities to enhance and grow our business.”

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