29 Jul 2022 13:57
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29 July 2022
San Leon Energy plc
("San Leon")
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Update on development of the Oza field, Nigeria
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San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, notes the announcement made by Decklar Resources Inc. ("Decklar") in Canada. San Leon has a 11% shareholding in Decklar Petroleum Limited ("DPL"), the local subsidiary of Decklar operating in Nigeria, and has also made a US$5.5 million loan to DPL, via 10% per annum unsecured subordinated loan notes.
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Part of the text of Decklar's announcement is set out below:
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"Calgary, Alberta -- Decklar Resources Inc. (TSX-V: DKL) (OTCQX: DKLRF) (FSE: A1U1) (the "Company" or "Decklar") provides an update regarding the crude oil production rate from the Oza-1 well at the Oza Oil Field in Nigeria.
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Decklar and its co-venturer Millenium Oil & Gas Company Limited are pleased to announce that the Oza-1 well at the Oza Oil Field has reached an averaged, stabilized production rate of 1,184 barrels of oil per day ("bopd").
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The well is producing this volume of crude oil at a fixed choke setting of 24/64 inch over a 46 hour period. The Oza-1 well is currently producing an average of 1,184 bopd of 23 degree API sweet crude oil and flowing tubing head pressure of 400 psig with zero BS&W and an average gas oil ratio of 71 mcf/bbl. Production of crude oil from the Oza-1 well is flowing into storage tanks at the Oza Oil Field and then will be delivered by truck to the Umugini Pipeline Infrastructure Limited crude handling facilities."
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San Leon Energy plc | +353 1291 6292 |
Oisin Fanning, Chief Executive Julian Tedder, Chief Financial Officer | Â |
Allenby Capital Limited (Nominated adviser and joint broker to San Leon) | +44 20 3328 5656 |
Nick Naylor Alex Brearley Vivek Bhardwaj | Â |
Panmure Gordon & Co (Joint broker to San Leon) | +44 20 7886 2500 |
James Sinclair-Ford | Â |
Tavistock (Financial Public Relations) | +44 20 7920 3150 |
Nick Elwes Simon Hudson | Â |
Plunkett Public Relations | +353 1 230 3781 |
Sharon Plunkett | Â |
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