San Leon Energy PLC - Ireland based oil and gas production and development company focused on Nigeria - Enters subscription agreement with Decklar Petroleum Ltd, a local subsidiary of Decklar Resources, which entitles San Leon to purchase USD7.5 million of 10% unsecured subordinated loan notes of Decklar Petroleum and 15% of the enlarged share capital of Decklar Petroleum.
In addition, Decklar Petroleum and San Leon have entered into an option agreement which entitles San Leon to purchase an additional USD7.5 million of loan notes and further Decklar Petroleum shares representing an additional 15% of the enlarged share capital of Decklar Petroleum.
Current stock price: 39.97 pence
Year-to-date change: up 60%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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San Leon (SLE)