This is Shares and MoneyAM's new quarterly publication covering the world of Oil, Gas and Mining companies. The latest edition is out today and can be viewed as a page flip or a pdf download at www.mrqonline.co.uk

Features on:

Silver
Copper
Platinum

Companies Featured in this issue:

African Eagle
Ariana Resources
GGG Resources
Ithaca Energy
Ormonde Mining
San Leon Energy

I notice in their corporate update this:

San Leon recently hosted senior management from Geron Energy Investment ("Geron"), a party to the Offeror, on a field trip to OML 18 and the nearby Notore chemical plant, as part of ongoing take-over discussions.

The Company has additionally signed confidentiality agreements with a further three parties who have approached San Leon, subsequent to the Company's announcements of 19 and 21 December 2016.


Seems that bidders are circling, last price quoted for a bid was 80p by Geron. Current share price 47p.

Some upside potential?

This may create a downside Mike!

19 April 2017

San Leon Energy plc
("San Leon" or the "Company")

Morocco Update

San Leon Energy plc, the AIM listed company focused on oil and gas development and appraisal in Africa and Europe, announces that the Office National des Hydrocarbures et des Mines ("ONHYM") has written to the Company regarding the non-performance of the work programme on its Zag Licence, onshore Morocco. ONHYM has assumed control of the existing bank guarantee (San Leon's share being $1,400,000 - an amount listed in the Company's accounts as restricted cash), and has requested a penalty of the same amount again to be paid. The Company is in negotiations with ONHYM regarding the future of the licence, including the work programme. The Zag licence is in a geographical area which the Company believes justifies a declaration of force majeure due to the regional security situation. San Leon will update the market in due course.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Petromaroc hit with similar issue on this licence. Will be interesting to see how this security issue in the sub-sahara is resolved.