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San Leon Energy says funding, preparation progressing for Oza field in Nigeria
StockMarketWire.com
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Oil company San Leon Energy said definitive loan documents for the development of the Oza field in Nigeria were being finalized.
Well site and drilling location preparation for the Oza-1 well re-entry and first horizontal development well had been completed.
The road to the well site location had been rebuilt and construction of a concrete drilling pad, concrete mud pit, buildings and related infrastructure also had been completed.
Long lead time items needed for the Oza-1 re-entry had been secured and a drilling rig currently located near the field had been identified and contracted.
'As we have previously announced, the global restrictions imposed in response to the Covid-19 pandemic frustrated our attempts to complete our investment in the Oza oil field on our original timeframe,' chief executive Oisin Fanning said.
'I am however pleased to report that, through the combined efforts of all of the partners, we are now close to concluding the funding arrangements.'
'In the meantime, significant preparatory work has been completed on site and we now anticipate being able to start the project promptly.'
At 9:13am: (LON:SLE) San Leon Energy PLC share price was 0p at 23p
Story provided by StockMarketWire.com
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