{"id":109723,"title":"San Leon (AIM:SLE) pushes back the deadline for the OML 18 agreement in Nigeria.","publisher":"Share Talk","author":"sharetalk","published":"2023-09-01T07:18:16+00:00","modified":"2023-09-01T07:18:16+00:00","canonical_url":"https://www.share-talk.com/san-leon-aimsle-pushes-back-the-deadline-for-the-oml-18-agreement-in-nigeria/","markdown_url":"https://www.share-talk.com/san-leon-aimsle-pushes-back-the-deadline-for-the-oml-18-agreement-in-nigeria.md","json_url":"https://www.share-talk.com/san-leon-aimsle-pushes-back-the-deadline-for-the-oml-18-agreement-in-nigeria.json","category":"Energy","categories":["Energy"],"tags":["Barryroe","canada","Decklar Petroleum","Decklar Resources","DKL","Duncan Blount","floating storage","Midwestern","Nigerian oil","Oisin Fanning","Petroleum","pipeline","Providence Resources","PVR","San Leon Energy","Share Talk","SLE","Umugini"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"**San Leon Energy PLC (AIM:SLE, OTC:SLGYF)** has postponed the final dates for its anticipated deals with Midwestern Oil & Gas Company and additional conditional investments in Energy Link Infrastructure (Malta) Limited.\n\nThe deals are set to quadruple San Leon’s stake in the OML 18 oilfield in Nigeria to 44.1%.\n\nAfter discussions with Midwestern and other related parties, the final dates for these anticipated deals have been shifted to 30 September.\n\nThese dates concern the new Eroton debt arrangements, the Sahara OML 18 purchase agreement, the MLPL restructuring deal, and the ELI reorganization agreement.\n\nTalks are ongoing between San Leon and Midwestern about possibly revising the deals to enable completion, even as delays with the new Eroton debt and the Sahara OML 18 purchase persist.\n\nSan Leon highlighted that these setbacks are beyond the company’s influence.\n\nAdditionally, the firm is negotiating with a third party to secure an alternative US$50 million loan to finance more investments in ELI and settle debts with current lenders.\n\nSan Leon is also in talks with ELI about the possibility of investing an additional sum of up to US$37.0 million in ELI, contingent on the acquisition of the aforementioned US$50 million loan."}