San Leon Share News (SLE)

(Sharecast News) - Africa-focussed oil and gas development company San Leon Energy updated the market on the mobilisation of a rig to the Akaso field in the OML 18 licence, onshore Nigeria, on Monday.The AIM-traded firm had said on 25 September that Eroton, the operator of the licence, was preparing to mobilise a rig to the Akaso field to drill the first new well under its operatorship.It said on Monday that Eroton had confirmed that a rig was now fully-positioned at the well site, and was expected to begin drilling "in the next few days".Well OSMU-1 was expected to take up to 60 days to drill to around 11,900 feet at measured depth below rotary table, and complete - targeting the E4500 and E3000 formations.It was then expected to be connected to the OML 18 production system."Drilling the first new well of Eroton's operatorship marks the start of a new chapter in the development of OML 18," said San Leon chief executive officer Oisin Fanning."Increasing oil production at the wellhead is an important step in increasing cash flow from the asset, and I look forward to providing shareholders with an update on the performance of this new well in due course, in addition to providing further information on further development activities."