San Leon rises after progress at investee Decklar

Nigeria-focussed oil and gas exploration, development and production company San Leon Energy said on Friday that its investee company Decklar Resources had contracted a drilling rig for re-entry and testing operations on the Oza-1 well.

The AIM-traded firm said mobilisation was expected to begin next week.

It said camp and logistics equipment required for the well re-entry was currently being staged on site.

Long-lead equipment items required to test and complete the Oza-1 well re-entry had been ordered, it added, with service contractors sourced and secured.

“We are pleased with the progress being made and look forward with anticipation to the commencement of Oza-1 re-entry operations, testing, completion, and initial production at the Oza Field,” said Decklar chief executive officer Duncan Blount.

“These initial operations at the Oza Oil Field represent a milestone culminating from considerable effort and preparation for the initial development activities at the Oza Oil Field with [our partner] Millenium.”

At 1318 BST, shares in San Leon Energy were up 0.63% at 40p.