San Leon Energy, the AIM-listed oil exploration group headed by Irishman Oisín Fanning, is facing a winding-up petition from a creditor in a dispute over a €14.7m debt. Avobone, a Dutch group that was involved with San Leon on a project in Poland, sought the petition in the High Court in Dublin last week. It is due to be heard on December 4. San Leon owes €14.7m to Avobone to settle a court dispute but has rescheduled payments a number of times. The company was due to pay €8m to Avobone in October and €6.7m in November, but announced on November 1 that it agreed with Avobone to make the payment in full no later than January 15. The oil group is itself awaiting delayed
Oil and gas company San Leon Energy could face a winding-up petition after it refused terms over the repayment of funds owed to Dutch creditor Avobone. Earlier this year, the two firms agreed an outstanding €14.7m ($17.4m) debt would be paid no later than 15 January 2018, after San Leon had rescheduled previous payment deadlines. The deal was struck in July 2016 when Avone acquired assets from Petrobras for $US3.2bn (£2.3bn).