29 July 2022
San Leon Energy plc
("San Leon")
Update on development of the Oza field, Nigeria
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.
Part of the text of Decklar's announcement is set out below:
"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.
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").
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."
| San Leon Energy plc | +353 1291 6292 |
| Oisin Fanning, Chief Executive Julian Tedder, Chief Financial Officer |
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| Allenby Capital Limited (Nominated adviser and joint broker to San Leon) | +44 20 3328 5656 |
| Nick Naylor Alex Brearley Vivek Bhardwaj |
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| Panmure Gordon & Co (Joint broker to San Leon) | +44 20 7886 2500 |
| James Sinclair-Ford |
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| Tavistock (Financial Public Relations) | +44 20 7920 3150 |
| Nick Elwes Simon Hudson |
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| Plunkett Public Relations | +353 1 230 3781 |
| Sharon Plunkett |
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