San Leon gets $200m in placing for OML 18; Sunmonu appointed to Board

Further to press speculation, San Leon announces that it has received equity placing orders in excess of US$200 million at 45 pence per share to complete the acquisition of an indirect interest in OML 18, a Nigerian Oil and Gas producing field (the “Transaction”).

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The Company also confirms that Mr Mutiu Sunmonu, former Managing Director of the Shell Petroleum Development Company of Nigeria Limited, is expected to be appointed as Non-Executive Chairman of San Leon with Oisin Fanning, assuming the role of Chief Executive Officer. The Company anticipates full details of the Transaction together with publication of an AIM admission document will be published shortly.