San Leon Energy PLC (AIM:SLE, AQSE:SLE, OTC:SLGYF) has noted an update from Decklar Resources regarding its operations at the Oza field, in Nigeria, where it has now received a first payment from oil sales since its restart in 2022.
The company, in a statement, said Oza saw increased production at 1,300 barrels of oil per day (bopd) after restarting at around 900 bopd. It was the result of repairs to the Oza-4 well which added 400 bopd, the company added.
Trucking operations has continued to enable sales into the Edo Refinery and Petrochemicals Company Limited (ERPC) in Edo State, Nigeria, and another invoice has been issued for 5,000 barrels of shipments under a recently signed sales agreement with ERPC - which papered purchases totalling an initial 30,000 barrels.
Payments for the first 10,000 barrels have been received do date, the company added.
San Leon noted that it continues to seek a sale of its non-core assets which include its interests in Decklar - an 11% shareholding and its US$5.5mln loan to Decklar - with a potential deal currently in advanced negotiation though such a deal would be subject to the purchaser completing a fundraise.