Further to the announcement on 5 June 2017, San Leon Energy, the AIM listed company focused on oil and gas development and appraisal in Africa and Europe, has announced that San Leon and Avobone have agreed a revised payment schedule in respect of sums owed to Avobone. The remaining payments of €8,000,000 (previously due during October 2017) and €6,694,840 (previously due during November 2017) will now be paid using Nigerian funds to be received by San Leon, to be paid to Avobone as soon as received by San Leon and no later than by 15 January 2018. The Company is scheduled to be repaid approx. US$19 million per quarter on its loan notes from Q4 2017, with the next payment due to be received by the Company on or before 1 January 2018. Original article link Source: San Leon Energy
Republic of Ireland-based oil and gas exploration firm San Leon Energy has agreed a revised payment schedule for debts to Avobone. The companies have decided that payments of €8m ($9m) and €6.7m, previously due in October and November 2017 respectively, will now be paid using Nigerian funds, as soon as San Leon receives them, with a deadline of 15 January 2018.