San Leon Energy Invests $7.5mln into Nigeria’s Oza Oil Field

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San Leon Energy PLC’s (LON: SLE) Oisin Fanning spoke to Proactive London’s Katie Pilbeam about its new US$7.5mln investment into the Oza oil field in Nigeria.
The structure of the deal is via a loan agreement with Decklar Petroleum, a subsidiary of Asian Mineral Resources (CVE: ASN).

San Leon will subscribe for US$7.5mln of Decklar loan notes, carrying interest at 10%, and it will also receive 1.76mln Decklar shares.

San Leon also gains the right to subscribe for another US$7.5mln of notes, plus other 2.5mln shares subject to results from a planned well.

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