San Leon Energy PLC (AIM:SLE, AQSE:SLE, OTC:SLGYF) said Decklar Petroleum Limited has recommenced loading crude oil trucks at the Oza Oil Field in Nigeria.
San Leon has a 11% stake in Decklar Petroleum, the Nigerian subsidiary of Canadian firm Decklar Resources, and has also made a US$5.5mln loan to Deckalr Petroleum, via 10% per annum unsecured subordinated loan notes.
A statement from Decklar said that it, alongside its co-venturer Millenium Oil & Gas Company, have acquired the permits to obtain and load crude oil trucks at the site.
Crude oil will be trucked to a processing and sales terminal in Nigeria, with an initial delivery of 10,000bn barrels.
Decklar and the processing and sales terminal, which it has entered an agreement with, are also in “advanced discussions” to increase the initial sales quantity to 30,000bn barrels and “possibly agree a minimum monthly quantity of barrels of Oza Oil Field.”
Last month, San Leon said that once crude in storage has been dispatched, production is expected to resume at the Oza Oil Field.