Independent gas and oil exploration firm San Leon Energy will struggle to meet payments of €8m ( $9.6m ) and almost €7m , due in October and November 2017 to Nigerian company Avobone , as it continues to wait for payments from its stake in a Nigerian oil field. The oil and gas explorer, run by former Smart Telecom chief executive Oisin Fanning, said it is also looking to find a new independent non-executive director. While auditors KPMG expressed doubt about San Leon ability to continue to trade, in a statement, the Polish company said: "The directors have assumed that additional loan facilities of €12m will be obtained in October 2017 and a further €7m will be obtained in October 2017 to meet the group's payment commitments."
Independent gas and oil exploration firm San Leon Energy will struggle to meet payments of €8m ( $9.6m ) and almost €7m , due in October and November 2017 to Nigerian company Avobone , as it continues to wait for payments from its stake in a Nigerian oil field. While auditors KPMG expressed doubt about San Leon ability to continue to trade, in a statement, the Polish company said: "The directors have assumed that additional loan facilities of €12m will be obtained in October 2017 and a further €7m will be obtained in October 2017 to meet the group's payment commitments."