Share Name Share Symbol Market Type Share ISIN Share Description
San Leon Energy Plc LSE:SLE London Ordinary Share IE00BWVFTP56 ORD EUR0.01 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 40.00 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -8.6 -2.3 - 200

San Leon Energy PLC Update re: ELI Loan Repayment

09/08/2021 7:00am

UK Regulatory (RNS & others)

San Leon Energy (LSE:SLE)
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RNS Number : 9256H

San Leon Energy PLC

09 August 2021

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

9 August 2021

San Leon Energy plc

("San Leon" or the "Company")

Update re: ELI Loan Repayment

San Leon Energy plc, the independent oil and gas production, development and exploration company focused on Nigeria, provides the following update in relation to its investment in Energy Link Infrastructure (Malta) Limited ("ELI"), the company which owns the Alternative Crude Oil Evacuation System ("ACOES") project . The ACOES is being constructed to provide a dedicated oil export route from OML 18, comprising a new pipeline from OML 18 and a floating storage and offloading vessel.

As previously announced by San Leon on 3 August 2020, the Company originally invested US$15 million in ELI. The investment comprised a 10% equity interest in ELI together with a US$15 million shareholder loan with a coupon of 14% per annum over four years, repayable quarterly following a one-year moratorium from the date of investment. The first repayment installment from ELI, which amounts to approximately US$2.2 million, has recently become due (the "First Installment").

San Leon announced on 24 June 2021 that it i s considering making further debt and equity investments in ELI and reaffirmed that intention in subsequent announcements during July 2021. The Company has agreed with ELI that, should these further investments be made, then the First Installment will be offset from any investment monies payable to ELI by San Leon under certain of these new arrangements. Pending any further investment in ELI, the First Installment will continue to accrue interest at 14% per annum.

A further announcement will be made as appropriate.


 San Leon Energy plc                                     +353 1291 6292 
 Oisin Fanning, Chief Executive 
 Allenby Capital Limited 
  (Nominated adviser and joint broker to the Company)    +44 20 3328 5656 
 Nick Naylor 
  Alex Brearley 
  Vivek Bhardwaj 
 Panmure Gordon & Co 
  (Joint broker to the Company)                          +44 20 7886 2500 
 Nick Lovering 
 Brandon Hill Capital Limited 
  (Joint broker to the Company)                          +44 20 3463 5000 
 Oliver Stansfield 
  Jonathan Evans 
  (Financial Public Relations)                           +44 20 7920 3150 
 Nick Elwes 
  Simon Hudson 
 Plunkett Public Relations                               +353 1 230 3781 
 Sharon Plunkett 

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(END) Dow Jones Newswires

August 09, 2021 02:00 ET (06:00 GMT)

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