San Leon Energy PLC Update on New ACOES, OML 18 (3552B)
January 30 2020 - 2:00AM
UK Regulatory
TIDMSLE
RNS Number : 3552B
San Leon Energy PLC
30 January 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the
publication of this announcement via a Regulatory Information
Service ('RIS'), this inside information is now considered to be in
the public domain.
30 January 2020
San Leon Energy Plc
("San Leon", "SLE" or the "Company")
Update on New Alternative Crude Evacuation and Storage System,
OML 18
The Company is pleased to provide an update on the new
alternative crude oil evacuation and storage system ("ACOES") on
OML 18, onshore Nigeria. As described in the half-year report
released on 30 September 2019, ACOES is being constructed for the
purpose of transporting, storing and evacuating crude oil from the
OML 18 export pipeline ("Pipeline") running from within the OML 18
acreage and down to the open sea to a dedicated Floating Storage
and Offloading ("FSO") vessel named ELI Akaso.
The ELI Akaso is expected to arrive shortly into Bonny port.
Energy Link Infrastructure (Malta) Limited ("ELI", the third-party
provider of ACOES) has informed Eroton, the operator of OML 18,
that the following activity is expected.
- All government and regulatory approvals for project
construction have been received;
- February 2020: site mobilisation;
- March 2020: installation and completion of the Cawthorne 2
& 3 pig launcher and receiver platforms; and
- May 2020: completion of pipe laying, and commissioning of
ACOES.
Oisin Fanning, Chief Executive Officer, commented:
"The operation of ACOES is expected to be a major catalyst for
the success of OML 18. We have long described the challenges to
pipeline losses and downtime on the existing NCTL pipeline and
ACOES is expected to reduce both significantly."
Enquiries:
+ 353 1291
San Leon Energy plc 6292
Oisin Fanning, Chief Executive
Cantor Fitzgerald Europe
(Nominated adviser and joint broker +44 207 894
to the Company) 7000
David Porter
Rick Thompson
Whitman Howard Limited +44 20 7659
(Joint broker to the Company) 1234
Nick Lovering
Brandon Hill Capital Limited +44 20 3463
(Joint broker to the Company) 5000
Oliver Stansfield
Jonathan Evans
Tavistock +44 20 7920
(Financial Public Relations) 3150
Nick Elwes
Simon Hudson
Barnaby Hayward
Plunkett Public Relations +353 1280 7873
Sharon Plunkett
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END
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