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San Leon Energy PLC (SLE)

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Wednesday 27 June, 2012

San Leon Energy PLC

Disposal of Amstel Field Royalty for EUR 9.9m

RNS Number : 2086G
San Leon Energy PLC
27 June 2012
 



27 June 2012

 

San Leon Energy Plc

("San Leon" or the "Company")

 

Acceptance of €9.9m Cash Offer for Amstel Field Overriding Royalty

 

San Leon Energy is pleased to announce that it has accepted a cash offer of €9.9 million (approx. US$ 13 million) ("the Offer")  for its 2.5% overriding royalty interest (ORRI) in the Amstel Field production licence (Block Q13a), offshore Netherlands from GDF Suez E&P, the operator of the Amstel Field.  The Offer will complete by 20 July 2012.

 

Oisin Fanning, Chairman of San Leon, commented:

 

"We are pleased to accept this offer from GDF Suez. Considering the international risks facing oil prices, we consider the offer to represent fair value. These resources can now be applied to San Leon's other core exploration activities, such as in Poland, where we are planning further exploration on the back of the Siciny-2 well success*."

 

*see RNS 26 June 2012

 

 

For further information contact:

 

San Leon Energy Plc

Tel: + 353 1291 6292

 

Oisin Fanning, Executive Chairman


John Buggenhagen, Exploration Director




Macquarie Capital (Europe) Limited

Tel: +44 (0) 20 3037 2000

Paul Connolly


John Dwyer




Westhouse Securities

Richard Johnson

Tel: +44 (0) 20 7601 6100

 

Antonio Bossi




College Hill Associates

Tel: +44 (0) 20 7457 2020

Nick Elwes


Alexandra Roper


 

www.sanleonenergy.com

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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