San Leon Energy Plc told investors that talks over a potential transaction to restructure its interests in OML 18 are ongoing.
A payment waiver agreed in July relating to San Leon owned debt has now expired, though the company noted that it is discussing a new extension to the waiver.
Whilst talks are ongoing the company provided the customary cautionary note that there can no certainty that the potential transaction will proceed.
In July, San Leon agreed to a waiver of a US$32mln debt repayment due on July 5. The paused payment is one of three remaining instalments which together total US$98mln, due before the end of 2021.
The debt repayment was paused as the transaction under negotiation may see San Leon gain ownership and control of the Midwestern Leon Petroleum Limited vehicle (which holds the OML 18 interests) instead of cash.
Story by ProactiveInvestors
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
pathogens and gives you more
energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video)
Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.