San Leon Energy well partner receives money owed by Nigerian oil corporation
Source - SMW
San Leon Energy said a well partner in Nigeria had received a portion of money it was owed by the Nigerian National Petroleum Corporation.
Eroton, the operator of the OML 18 onshore well, had now received all of the cash call arrears owed for 2015 and only around $20m of arrears remained for 2016.
All cash calls had been received for 2017 and were up-to-date for 2018.
'I consider the payment of the substantial majority of NNPC cash call arrears to be a very positive step in supporting the OML 18 new well drilling activity which began last week and is targeting increased gross oil production,' San Leon chief executive Oisin Fanning said.