San Leon Energy PLC (LON:SLE) told investors it has agreed to a further three-week extension in order to complete the deal to invest in the Oza field, in Nigeria.
A new deadline of December 14 has now been agreed. As previously noted, the company pointed out, worldwide restrictions intended to slow the spread of the coronavirus (COVID-19) pandemic have presented certain logistical challenges.
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Nonetheless, it said that good progress has been made with the final drafts of all remaining conditions are currently being reviewed by the parties.
“In particular, the trading subsidiary of a major oil company , which along with a local Nigerian bank, is to provide a five-year term debt to Decklar has provided written confirmation setting out the remaining steps that it is addressing prior to completion,” San Leon said in a statement.
“The terms of the transaction remain unchanged and all parties remain committed to bring it to a conclusion as soon as is practical.”
