San Leon Energy Share Discussion Threads

[linksdean2] 19/4/2017 14:08

T7..now you can see why Tosca had to stop buying and defo not what the non vested no nowts stated!!..

[triple seven] 19/4/2017 11:23

I wonder if Tossca will start buying again.All out in the open now?

[tonysss13] 19/4/2017 11:22

San Leon Energy PLC - Morocco Update

[19-April-2017]

RNS Number : 7230C
San Leon Energy PLC
19 April 2017

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.

[callasjunkie] 19/4/2017 10:38

2016 Accounts due on 30 June should be a classic. Investors will soon get to know the difference between profit and cashflow. I'll be particularly interested in KPMG's contortions if they are to get an unqualified audit report.

[callasjunkie] 19/4/2017 10:29

Hi ChartTrader. I read the same Nigerian articles on recent shutdown of NCTL. All state Shell closed the line. In fact Aiteo both own and operate the line so would be unusual to say the least if Shell are responsible for fixing the illegal activity. Maybe they have been contracted to do the work??