Global independent oil and gas exploration company San Leon has reported losses of more than EUR218m for 2015, but said it has signed a "transformational" deal which would turn the company into a producing firm in Nigeria. Shareholders still need to approve the deal and if they give it the green light, San Leon will return "9.72% of free cash flow" to shareholders, it said.
Global independent oil and gas exploration company San Leon has reported losses of more than EUR218m for 2015, but said it has signed a "transformational" deal which would turn the company into a producing firm in Nigeria. Shareholders still need to approve the deal and if they give it the green light, San Leon will return "50% of free cash flow" to shareholders, it said.