San Leon Energy PLC (AIM:SLE, AQSE:SLE, OTC:SLGYF) 11% owned Decklar Petroleum has announced that it now has received permits required to resume production from the Oza-1 well at the Oza Oil Field.
In a statement, Deklar said: “Production from the well has begun at low volumes initially to re-establish oil flow, with volumes to be increased steadily in order to establish a long-term sustainable rate.
“Production of crude oil from the Oza-1 well will flow into storage tanks at the Oza Oil Field and then be delivered by truck to the Umugini Pipeline Infrastructure Limited crude handling facilities."
San Leon holds an 11% stake in Decklar and has helped fund the company through US$5.5mln of debt securities (10% per annum unsecured subordinated loan notes).