RNS Number : 2447P San Leon Energy PLC 24 May 2018 24 May 2018 San Leon Energy plc ("San Leon" or the "Company") Update on dispute with SunTrust Oil San Leon Energy plc, the AIM listed company, focused on oil and gas development and appraisal in Africa and Europe, has been provided with a copy of correspondence between SunTrust Oil ("SunTrust") and the Nigerian Department of Petroleum Resources ("DPR"). The correspondence relates to a requirement under Nigerian law for the Minister of Petroleum Resources to consent to any assignment of interests in oil and gas assets in Nigeria and the fact that such consent was not obtained prior to the purchase by the Company of its indirect interest in OML 18. San Leon obtained legal advice prior to the purchase which confirmed that, owing to the way that the transaction was structured (and specifically the nature of its indirect interest in OML 18), it was not necessary for Eroton to obtain prior consent from the Minister. Furthermore, San Leon and its partners have today re-confirmed with their legal advisers that this position is correct and the DPR will be notified accordingly. As previously announced, the Company remains of the view that the purported allegations by SunTrust are without any foundation or merit. The Company will provide further updates in due course. 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 (+44 131 257 4634) David Porter (+44 207 894 8896) Whitman Howard Limited (Financial adviser and joint broker to the Company) Nick Lovering (+44 20 7659 1234) Francis North (+44 20 7659 1234) Brandon Hill Capital Limited (Joint broker to the Company) Oliver Stansfield (+44 203 463 5000) Jonathan Evans (+44 203 463 5016) Vigo Communications (Financial Public Relations) Chris McMahon (+44 207 830 9700) Kate Rogucheva (+44 207 830 9705) Plunkett Public Relations Sharon Plunkett (+353 1 280 7873) This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit . END MSCLLFLEEIISFIT
San Leon has responded to claims made by SunTrust Oil that it failed to obtain consent from Nigeria 's minister of petroleum resources for its purchase of a stake in OML ##rust , stating that the " purported claims by investors are without any merit or merit " . The company said it sought legal action before the acquisition and was informed permission was not required . Furthermore , it said it had recently received confirmation from its lawyers that it operated within Nigerian law .