Payment Received Against MLPL Loan Notes

RNS Number : 0147G

San Leon Energy PLC

01 November 2018

 

01 November 2018

San Leon Energy plc

("San Leon" or the "Company")

Payment Received Against MLPL Loan Notes

Repayment of Midwestern Leon Petroleum Limited ("MLPL") Loan Notes (the "Loan Notes")

San Leon Energy plc (the "Company"), the AIM listed company focused on oil and gas development and appraisal in Africa and Europe, announced on 25 September 2018 that it had been informed by Midwestern Leon Petroleum Limited ("MLPL"), that the quarterly Loan Notes repayment to San Leon which was due on or before 1 October 2018, was expected to be made during October 2018.

The Company confirms that it has now received a total of approximately USD $18.6 million in full satisfaction of payments due for Q3 2018 under the MLPL Loan Notes (details of which have been described in previous Company announcements).

A balance of USD $146.1 million of principal remains outstanding and payable to the Company as of 31 October 2018. Interest continues to accrue at 17% per annum on the outstanding principal, in addition to this balance.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

San Leon Energy plc

Oisin Fanning, Chief Executive (+ 353 1291 6292)

Cantor Fitzgerald Europe (Nominated adviser, financial adviser and joint broker to the Company)

Nick Tulloch ([phone])

David Porter ([phone])

Whitman Howard Limited (Financial adviser and joint broker to the Company)

Nick Lovering ([phone])

Brandon Hill Capital Limited (Joint broker to the Company)

Oliver Stansfield ([phone])

Jonathan Evans ([phone])

Vigo Communications (Financial Public Relations)

Chris McMahon ([phone])

Kate Rogucheva ([phone])

Plunkett Public Relations 

Sharon Plunkett ([phone]) 

 

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