San Leon deal paves the way for a “simpler story”, CEO says
“OML 18 will only contribute about 30% of the exports. So many people have signed up and want to sign up – we’re going to reach full capacity very quickly,” Fanning said.
OML 18
San Leon’s Eroton out as operator after NNPC move
Some of these probes may result in the licence being revoked “if drastic steps are not taken by non-operating partners”.
San Leon denies NNPC, Sahara move on OML 18
It did though note that “armed and unknown men” had forcibly evicted Eroton staff from the Alakiri gas plant on February 24. These men claimed to represent OML 18 Energy Resource, a subsidiary of Sahara Group.
San Leon’s Fanning sets out the OML 18 plan
Things are looking up for San Leon Energy (LON: SLE), with the company closing in on the completion of its Nigeria deal and managing to avoid the termination of its listing on London’s AIM.
Nigeria faces uphill battle to tackle its oil spill issues
Nigeria has long had issues with safety, not least in keeping workers safe from militants. The government has shown little sign of tackling the problem among legal operations, let alone the safety challenges of widespread illicit bunkering and refining.
San Leon eyes final straight in closing Nigeria deal
San Leon Energy has been working on a Nigerian transaction, and as a result its shares suspended, for so long that it faces the prospect of its listing on London’s AIM being cancelled.
San Leon celebrates dividends, eyes pipeline losses
San Leon Energy continued its theme of paying out dividends, while projecting better times ahead as pipeline losses are expected to fall dramatically.
San Leon takes export link stake
Nigeria-focused San Leon Energy will stump up $15 million as a loan to secure the completion of the Alternative Crude Oil Evacuation System (ACOES), for exports from its OML 18.
San Leon feels export pressure in Nigeria
San Leon Energy’s Nigerian production held steady in 2019 as downtime and pipeline losses reduced exports.
San Leon sees OML 18 cash roll in
San Leon Energy has received $40 million under its loan notes agreement in Nigeria, while changing the terms of its lending.
Amid NCTL chaos, OML 18 progresses alternative export route
San Leon Energy expects its new export route in Nigeria to be commissioned in May, following a week where force majeure was declared on its current shared pipeline.
Nigerian pipeline problems drive hunt for alternatives
Losses and downtime from Nigeria’s OML 18 have reached 32% of production, San Leon Energy has reported in its half-year results.
San Leon looks to raise $200million for “transformational” Nigerian asset
San Leon Energy is aiming to raise at least $200million through a share placing priced at a significant premium in order to fund the acquisition of an indirect interest in a producing oilfield in Nigeria.