San Leon notes the announcement made on 27 October 2022 by Decklar Resources Inc. in Canada. San Leon has a 11% shareholding in Decklar Petroleum Limited, 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.
Decklar Resources adds that it has recommenced loading crude oil into trucks at the Oza Oil Field in Nigeria.
Delivery of Crude Oil
Decklar and its co-venturer Millenium Oil & Gas Company Limited are pleased to announce that the required permits have been obtained and loading of crude oil into trucks has recommenced at the Oza Oil Field. The crude will be trucked to a crude processing and sales terminal in Nigeria with which the Company has entered into an agreement. As previously announced, the agreement with the company that owns the crude processing and sales facilities provides for an initial delivery of 10,000 bbls. The parties are also in advanced discussions to increase the initial sales quantity to 30,000 bbls and to possibly agree a minimum monthly quantity of barrels of Oza Oil Field crude to be sold.”