San Leon Energy says second Avobone payment not made

San Leon Energy's shares sagged more than 5% on stating the second payment due to Avobone Poland BV has not yet been made.

The payments were due as per an agreed settlement regarding several disputes.

San Leon said it was in talks with Avobone regarding this payment, and would update the market in due course.

In November last year, San Leon said it agreed to pay Avobone a total settlement of €23.3m, spread across several tranches.

At 13:07 BST, shares in AIM-traded San Leon Energy were down 5.2% to 43.25p each, and off earlier lows.