{"id":10703,"date":"2021-08-09T16:53:54","date_gmt":"2021-08-09T16:53:54","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=10703"},"modified":"2021-08-09T16:53:54","modified_gmt":"2021-08-09T16:53:54","slug":"nigeria-san-leon-energy-provides-eli-loan-repayment","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-san-leon-energy-provides-eli-loan-repayment\/","title":{"rendered":"NIGERIA: San Leon Energy Provides ELI Loan Repayment"},"content":{"rendered":"<p class=\"ck\"><span class=\"bu\">San Leon Energy has provided the following update in relation to its investment in Energy Link Infrastructure (Malta) Limited (ELI), the owner of the <\/span><span class=\"bs\">Alternative Crude Oil Evacuation System (ACOES) <span class=\"cl\">project<\/span><\/span><span class=\"bs\">.\u00a0<\/span><span class=\"bu\">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.<\/span><span class=\"bu\">\u00a0<\/span><\/p>\n<p class=\"ck\"><span class=\"bu\">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.\u00a0 The first repayment installment from ELI, which amounts to approximately US$2.2 million, has recently become due (the &#8220;First Installment&#8221;).\u00a0<\/span><span class=\"bu\">\u00a0<\/span><\/p>\n<p class=\"ck\"><span class=\"bu\">San Leon announced on 24 June 2021 that it i<\/span><span class=\"bu\">s considering making further debt and equity investments in ELI and reaffirmed that intention in subsequent announcements during July 2021.\u00a0 The Company has agreed with ELI that, should these further investments be made, then the\u00a0<\/span><span class=\"bu\">First Installment will be offset from any investment monies payable to ELI by San Leon under certain of these new arrangements.\u00a0 Pending any further investment in ELI, the First Installment will continue to accrue interest at 14% per annum.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>San Leon Energy has provided the following update in relation to its investment in Energy Link Infrastructure (Malta) Limited (ELI), the owner of the Alternative Crude Oil Evacuation System (ACOES) &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-san-leon-energy-provides-eli-loan-repayment\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[8497,8032,8031,1749,8030,8029],"class_list":["post-10703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-acoes","tag-alternative-crude-oil-evacuation-system-project","tag-energy-link-infrastructure-malta-limited","tag-nigeria","tag-oml-18","tag-san-leon","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2MD","jetpack-related-posts":[{"id":8736,"url":"https:\/\/www.oilnewskenya.com\/index.php\/san-leon-acquires-10-interest-in-new-nigerian-oil-export-system\/","url_meta":{"origin":10703,"position":0},"title":"San Leon Acquires 10% Interest In New Nigerian Oil Export System","author":"","date":"August 3, 2020","format":false,"excerpt":"San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, has announced that it is investing US$15 million in Energy Link Infrastructure (Malta) Limited (ELI), the company which owns the Alternative Crude Oil Evacuation System (ACOES) project. As previously announced, the ACOES is being constructed\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":10479,"url":"https:\/\/www.oilnewskenya.com\/index.php\/san-leon-conditionally-acquires-further-interest-option-in-new-nigerian-oil-export-system\/","url_meta":{"origin":10703,"position":1},"title":"San Leon Conditionally Acquires Further Interest &#038; Option in New Nigerian Oil Export System","author":"","date":"June 24, 2021","format":false,"excerpt":"San Leon has announced a conditional investment of US$2 million as well as an option to conditionally invest a further US$6.5 million in the equity of Energy Link Infrastructure (Malta) Limited (ELI), the company which owns the Alternative Crude Oil Evacuation System (ACOES) project. The equity being conditionally purchased and\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13545,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-san-leon-eenrgy-provides-update-on-proposed-transactions-refinancing-update-eli-operational-update\/","url_meta":{"origin":10703,"position":2},"title":"NIGERIA: San Leon Energy Provides Update on Proposed Transactions, Refinancing Update &#038; ELI Operational Update","author":"","date":"April 4, 2023","format":false,"excerpt":"San Leon announces a further update in relation to: i) the proposed transactions with Midwestern Oil & Gas Company Limited (Midwestern) and the Company's further conditional investments in ELI; ii) its current refinancing discussions; and iii) an Energy Link Infrastructure (Malta) Limited (ELI) operational update. Update on the Proposed Transactions\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/OML-18.jpg?fit=750%2C598&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/OML-18.jpg?fit=750%2C598&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/OML-18.jpg?fit=750%2C598&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/OML-18.jpg?fit=750%2C598&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12418,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-san-leon-reports-proposed-midwestern-reorganisation-proposed-further-eli-investments\/","url_meta":{"origin":10703,"position":3},"title":"NIGERIA: San Leon Reports Proposed Midwestern Reorganisation &#038; Proposed Further ELI Investments","author":"","date":"July 12, 2022","format":false,"excerpt":"Highlights Series of transformational conditional transactions entered into by San Leon today to increase its exposure to OML 18 and the related infrastructure.\u00a0\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Completion of the Proposed Transactions will consolidate and simplify the group structure:\u00a0 o\u00a0\u00a0San Leon's exposure to the world class OML 18 asset increases fourfold to a 44.1%\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":11249,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-eroton-exploration-and-production-company-proposes-acquisition-of-an-additional-stake-in-oml-18\/","url_meta":{"origin":10703,"position":4},"title":"NIGERIA: Eroton Exploration and Production Company Proposes Acquisition of an Additional Stake in OML 18","author":"","date":"November 29, 2021","format":false,"excerpt":"Eroton Exploration and Production Company Limited has signed a non-binding term sheet with Africa Import Export Bank (Afrexim) for a prospective US$750,000,000 senior secured reserve-based lending facility. The purpose of the proposed facility, in addition to refinancing Eroton's current senior bank debt (of approximately US$196 million), is to provide funding\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":9202,"url":"https:\/\/www.oilnewskenya.com\/index.php\/san-leon-energy-an-update-on-its-indirect-interest-in-oml-18\/","url_meta":{"origin":10703,"position":5},"title":"NIGERIA: San Leon Energy an Update on its Indirect Interest in OML 18","author":"","date":"September 25, 2020","format":false,"excerpt":"Eroton completed its three well drilling programme in early 2020, with the final completion and flow of these wells impacted by Covid-19. The recent lower oil price has led Eroton to improve capital discipline and the prudent deferral of the next drilling campaign, now expected to commence towards the end\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/OML-18.jpg?fit=750%2C598&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=10703"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10703\/revisions"}],"predecessor-version":[{"id":10704,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10703\/revisions\/10704"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8737"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=10703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=10703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=10703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}