San Leon Energy Plans $7.5m Investment In Nigeria’s Oza Oil Field


San Leon Energy PLC – oil & gas exploration company – Provides funding for development of Oza Field, Nigeria. San Leon Energy agreed to invest USD7.5 million by way of a loan to Decklar Petroleum Ltd, the local subsidiary of Asian Mineral Resources Ltd.

Decklar is the holder of a risk service agreement with Millenium Oil & Gas Co Ltd on the Oza field in Nigeria.

Until the loan and its interest are repaid, 100% of the available funds that can be distributed from Decklar’s risk services agreement proceeds will be paid to San Leon in satisfaction of those payments.

San Leon will also subscribe for a 15% equity interest in Decklar, with an option to increase to 30% equity interest based on drilling results.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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